Legal Question in Disability Law in Virginia

i sold a coffee shop business (assets,inventory and goodwill) The buyer defaulted on the note. Apparently the buyer also signed another note from an investor 30 days later. She was to use those funds to pay off my purchase agreement note. Instead she squandered all the funds. Now she owes me $89,000 and the investor $132,000. I want to recapture my coffee shop assets as per the note, but the other note holder wants to stop me from doing this and has threatened to put a lien so any new buyers could not reopen the shop. HELP!! please :O)


Asked on 9/14/10, 7:30 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

If this investor (second would be buyer?) was not a bonafied purchaser for

value (being on notice that your note had yet to be paid at the time of his transaction), then his claim against the fraudster and the assets of the coffee shop should not be superior to yours and he should not be in a position to impose a lien or take other action that would keep you from enforcing the terms of your defaulted note against the fraudster.

At any rate, you need a competent civil litigation attorney to represent you

in this matter and should hire one as soon as possible (if you have not

already done so).

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Answered on 9/19/10, 9:25 pm


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