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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

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