About this Event
After CompressAir sued “Old Nello,” a private acquisition company purchased Old Nello’s debt and foreclosed on the company, buying out the four owner-officers in the process. “New Nello” did not announce the ownership change, remained in the same location, and conducted the same business as Old Nello. Later, the St. Joseph Circuit Court entered a judgment against Old Nello, then granted CompressAir’s request to hold New Nello liable as a garnishee-defendant. The Court of Appeals affirmed, finding a de facto merger between Old Nello and New Nello. New Nello Operating Co., LLC v. CompressAir, 142 N.E.3d 508 (Ind. Ct. App. 2020), reh’g denied, vacated. The Indiana Supreme Court has granted a petition to transfer and assumed jurisdiction over the case.