Legal Question in Bankruptcy in Florida

If I purchase a privately held company from another privately held company (parent company), and that parent company later files bankruptcy can the creditors come after the company I purchased.


Asked on 5/25/10, 5:36 am

1 Answer from Attorneys
Robert Wilcox Wilcox Law Firm

The answer to your question depends on the facts of the situation and what the documents provide. You should an attorney to review those. The general issue is whether you are buying the company "free and clear" of claims and liens, or not. Sometimes a "fee and clear" purchase is more easily accomplished as part of a bankruptcy case, because you get an order of the federal court as protection.

Robert Wilcox

(904) 281-0700

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Answered on 5/26/10, 9:25 am


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