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Thursday, April 18, 2013 10:28:34 AM
Business deals can still go ahead with a codicil that will place the responsibility of legacy claims and court actions on the original owners.
Even big company takeovers there are always legacy issues: outstanding debts, lawsuits, pollution claims, US Government claims etc.
If they wait till a company is free of encumbrances, there will hardly be any takeovers.
That is why lawyers are earning such nice fees, sorting out what is in the Trash Bin.
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