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COURT PERMITS BUSINESS SELLER TO SETOFF $2.6 MILLION DAMAGES IT OWED BUYER AGAINST $2.5 MILLION BUYER NOTE OWED SELLER EVEN THOUGH SUBORDINATED TO BUYER BANK

Surprisingly, a California Court of Appeals ignores a bank’s rights under a subordination agreement M&A Stories December 23, 2022 Introduction The seller of a business often carries back part of the purchase price in the form of a promissory note.

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