M&A Stories December 07, 2020 Introduction There is a lot more risk in selling your business when you turn over the keys to the buyer before getting all of your purchase price. The deal This deal involved the sale of…
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Seller’s Highly Leveraged Exit Strategy Collapses with Buyer’s Post-Closing Default
Posted in Guaranty, securing buyer's note, securing deferred purchase price, security agreement, seller carried purchase price Tagged with: M&A stories, M&A tips
Seller of pressure washer business had to go an extra mile to recover unpaid purchase price from buyer
For thirty-two years, Seller owned and operated Midwest Cleaning Systems, a northeast Iowa business that sold and serviced pressure washers and cleaning equipment. For the last thirty years, the business sold and serviced Alkota brand equipment. When Seller decided to…
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- time of the essence
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- tolling
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- trade secret misappropriation
- trade secret misappropriation by former seller employee
- trademark infringement
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- transferee liability for taxes IRC Section 6901
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- typo or scriverner's error
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- willing buyer or procuring cause
- Withholding Post-closing payments
- working capital adjustment
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