Get free answers to your Mergers & Acquisitions legal questions from lawyers in your area.
Owner of business wants to sell company and business assets to me. Business debt is greater than asking price. Asking price takes care of owners personally guaranteed debt, and there would still be $80,000 in an outstanding EIDL loan. Would I be inheriting the debt with the company? Or should I... View More 
answered on Oct 15, 2020
I pracrice in PA, but almost all states have some version of what's also called a Bulk Sales Law, and by that law, a debtor cannot sell all, or a substantial portion, of his business assets and leave creditors hanging, so the law provides that the debt follows the assets. Even where a state... View More
Bills not ins company now I get a claim letter I mail for bankruptcy what does this mean please please help me
answered on Aug 23, 2020
A Mississippi attorney would be able to advise best, but your question remains open for two weeks. From what you describe, it's possible that your insurance carrier became insolvent and went into receivership. This is only a guess because you mention that the billing facility mentioned... View More
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