A business I represent wants to take over another failing business, a martial arts studio, who's owner is claiming bankruptcy. In addition to the lease and name he wants to take the equipment as well. What's the minimum we can buy the equipment for while being both legal and not getting in trouble form the bankruptcy people.
1 Answer from Attorneys
Any attorney will say you need to consult with a bankruptcy attorney. Once the bankruptcy is filed, there are complex rules and procedures that must be followed. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
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