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Wednesday, July 12, 2023 9:20:37 AM
But if the acquisition is structured as an asset purchase, the transaction is only the purchase of specific assets of a company, and the new owner does not acquire the liabilities of the acquired company unless they specifically agree to do so.
Similarly, in a "sale free and clear of all liens and encumbrances", the buyer of the assets is not responsible for the debts of the seller, unless they specifically agree to assume those debts in the purchase agreement. I believe the seller can then theoretically go bankrupt to avoid repaying its debts.
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