California Supreme Court creates product line exception in 1977 by holding the buyer of the assets of a ladder maker responsible for the post-closing injury of a person caused by the seller’s defective ladder made and sold before the closing.…
California Supreme Court creates product line exception in 1977 by holding the buyer of the assets of a ladder maker responsible for the post-closing injury of a person caused by the seller’s defective ladder made and sold before the closing.…
The asset buyer had not assumed this liability in the asset purchase agreement and no common ownership or officer director management between buyer and seller. M&A Stories August 26, 2021 Introduction A buyer of the assets of a business can…
Introduction A buyer of a manufacturer, distributor or retailer of products out of bankruptcy expects that it can acquire the business free and clear of product liability claims under section 363(f) of the bankruptcy code. The deal This case involved…
Introduction Generally, a cash buyer of the assets of a business is not responsible for the defective products made by the seller, unless the buyer assumed those liabilities in the asset purchase agreement. However, California started imposing the seller’s product…
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