Quote: When a company fails (assuming that it is not a sole propritorship) , the investors, the vendors, and the customers all lose out. That's the way it is and the way it has to be. It is not a scam if it is not intentional.
When an honest hard working mans business fails, and he has exausted all of the business' resources and closes the business, it's over. He is now free to gain new investors an re-start fresh. It would be neither fair or legally prudent to ask the new investors to make good on debts from a defunct company. It sucks for those who lose their investments, deposits, gift cards, etc. I'm sure it hurts worse for the owners such as John who give it all they have and lose everything. It needs to be this way, or we would not have the great benefits we gain from the risk takers. Look at Henry Ford, and most of the great men who built the auto industry. Many failures and fresh starts happened before success.
If John started his new business with the same or similar name, that was a big mistake, and he should expect problems like this.
If I was John I would personally (outside of the new company) come to agreement with the op. If I was the op, I would forget it and move on.
It can also be an easy way out taking the cash fromt he business but not paying any of the debt, declare bankruptcy and then they just re-open a new business and make money again screwing the customers from the old business. Also happens this way a lot.
