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Stock buyer of target and stock seller in post-closing fight over target’s cash

Sellers incorporated Target in 1994 and owned all the shares of Target. Target’s assets consisted of two buildings in Old San Juan, Puerto Rico and two bank accounts at UBS. Through Target, Sellers rented the buildings—a commercial space and six

Posted in book value adjustment, cash and cash equivalents, Description of business assets purchased, net working capital adjustment, purchase price adjustment, stock purchase agreement

Contract’s description of purchased business assets creates post-closing dispute over ownership of certificate of deposit

This is the story of a post-closing dispute between a business asset buyer and seller over the ownership of a certificate of deposit. The asset purchase agreement said that the buyer was buying all of the assets except for the

Posted in cash and cash equivalents, Description of business assets purchased

Asset buyer can’t sue seller for receiving a level of inventory far less than expected

This is a story of a buyer that thought it was buying $4.7 million of inventory; only to find out after the closing that the buyer had purchased less than $2 million. In this case, the seller during negotiations had

Posted in Description of business assets purchased

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