Legal Question in Business Law in Florida

business takeover

I am considering taking over a small business (incorporated as an LLC) that has been struggling financially for time but has a considerable cash flow. for the purpose of this question please assume that the current owner disappears.

1. if there turns out to be debt that i was unaware of when taking over the company that could pierce the corporate veil (such as back taxes or personally secured invoices, etc.)could i be held personally liable in place of the old owner?

2. could i pay myself a salary right away even if the bussiness is in an increasing debt situation?

3. can I take over the LLC in a bearer capacity and esentially remain anonomous?

while my intention is to turn around the business i feel bancruptcy is a very likely outcome how can I not take on personal liabilty for the actions of the past owner?


Asked on 6/15/07, 12:51 pm

1 Answer from Attorneys
Robert Roemer Robert Roemer

Re: business takeover

After reviewing your question I would suggest you e-mail me a phone number to call you at- because the price and other factors must be considered to properly considered to evaluate this situation.

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Answered on 6/15/07, 1:36 pm


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