Opinion
No. 130283.
April 7, 2006.
Orders Granting Oral Argument in Cases Pending on Application for Leave to Appeal.
SC: 130283, COA: 257127.
We direct the clerk to schedule oral argument on whether to grant the application or take other peremptory action. MCR 7.302(G)(1). The parties are directed to file supplemental briefs within 56 days of the date of this order addressing: (1) whether defendant is liable to plaintiff under the fifth narrow exception to the traditional rule of a corporation purchaser's nonliability for the purchased corporation's liabilities, when the purchase is accomplished by an exchange of cash for assets — that is, "`"where the transferee corporation was a mere continuation or reincarnation of the old corporation,"'" Foster v. Cone-Blanchard Machine Co, 460 Mich 696, 702 (1999) (citations omitted); (2) whether that fifth stated narrow exception discussed in Foster is precluded when there is a tertiary relationship ( id., p 704) between the purchasing entity and the purchased entity; (3) whether the continuity of enterprise doctrine as discussed in Foster has application beyond product liability cases; and, if so, (4) the applicability, under the facts of this case, of the continuity of enterprise doctrine.