Anime News Network is reporting that the New York State Department of State is listing anime distributor Media Blasters Inc. as an inactive company. The state says Media Blasters was dissolved by proclamation as of April 27, 2011.
According to the New York State Department of Taxation and Finance Technical Services Bureau Memo 86 (5)C, dissolution by proclamation means: "A domestic (formed in New York State) corporation which has failed to file required franchise tax reports or pay franchise taxes due for two consecutive years may be dissolved by the Secretary of State upon recommendation of by the State Tax Commission." The memo also says that a dissolution by proclamation "will result in substansial penalties against the corporation" and that "once the corporation is dissolved, its name may no longer be used legally."
New York Business Corporation Law Article 1005 (a) (1) says that after a company is dissolved, "the corporation shall carry on no business except for the purpose of winding up its affairs." New York law also says that a dissolved company is still responsible for any debts owed to creditors if the company does not notify creditors of the dissolution or if they knowingly make a false representation of the company with intent to deceive (such as if the company is still in existence after a dissolution).
Media Blasters commented on their Facebook page week that the company is, "Still here, still selling anime."
Previous Topic
Index