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Bankruptcy Court Permits 363(f) Sale of Business Free of Pension Claim

Introduction A pension plan unsuccessfully tried to stop a company from selling a business to a buyer in a 363(f) (3) sale free and clear of the seller’s pension fund liability. The deal The seller was engaged in environmental and

Posted in 363(f)(3) sale, asset purchase agreement, bankruptcy sale, distressed business acquisitions, federal multiemployer pension plan withdrawal liability, successor liability Tagged with: , , , , ,

Indiana APA Choice of Law Provision Doesn’t Apply to Its Product Line Exception

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

Posted in choice of law provision, product line exception, successor liability Tagged with: , , , , , ,

No Buyer De Facto Merger Successor Liability for Seller Debt

Introduction One risk in buying the assets of a business is being sued by a seller creditor for a seller liability that the buyer did not assume in the asset purchase agreement. This risk is much higher when buying all

Posted in all cash deal, de facto merger exception, seller ownership in buyer, successor liability Tagged with: , ,

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