- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Question about owning a business...
Posted on 12/27/14 at 11:27 am to boosiebadazz
Posted on 12/27/14 at 11:27 am to boosiebadazz
quote:
Oh, and just transfer all the good assets to the new LLC and keep all the old bad debt in the old LLC?
What a genius idea
I specified this when I purchased my practice 11 years ago. During my due dilligence, I noticed several long term contracts that made no sense to me with a few vendors that I would not utilize.
Purchase contract specifically stated that I would purchase only the assets of the practice and not liabilities (including these contracts). Deal was closed with no problems.
I did receive phone calls from these vendors and politely referred them back to the previous owner. How they resolved it was not my concern and none of these cancelled contracts caused me any problems.
0
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News