Legal Question in Business Law in New York
If I'm buying a business that owes money to workers comp does that debt carry on?
Asked on 2/24/10, 7:02 am
1 Answer from Attorneys
Julie Mason
Mason & Marchese, P.C.
In general whether or not liabilities carry to the new owner depend on the type of liability and how the business was transfered. As such, I will need more information to answer your question: How are you buying the business? Are you buying stock or just the assets? In what way does the business owe money to workers compensation insurance? Is there an existing claim that has not paid out? Does the business owe money for the actual insurance?
Answered on 3/02/10, 5:34 am
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