Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.
As far as you know, will your company be paying what the license is reasonably worth to acquire the license?
Thank you for your response.If the second company files a Chapter 7 Bankruptcy - which is a liquidation Bankruptcy - the Bankruptcy trustee will be interested only in whether or not assets sold by the company within the 2 years before the Bankruptcy filing were sold for what they could reasonably be sold for. (If not, the sale could be reversed.)Since you will be paying a reasonable price for the license, the company's Bankruptcy will have no affect on your license or your ability to execute it.I think this is what you wanted to know. If not, please let me know.Thank you.
is there an issue if I am a shareholder in both companies?
No - being a shareholder of both companies will not matter - as long as the license is sold for a reasonable approximation of what it is worth.
(In fact, this type of sale often involves shareholders, as they are more likely than non-shareholders to know about the availability of the asset.)
thanks. that is all for now.