continuity of interest
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 315 U.S. 179 - Helvering v. Alabama Asphaltic Limestone Co. · 1942Most cited · 436 citing opinions
When the equity owners are excluded and the old creditors become the stockholders of the new corporation, it conforms to realities to date their equity ownership from the time when they invoked the processes of the law to enforce their rights of full priority. At that time they stepped into the shoes of the old stockholders.