Appellate Practice Attorney serving New York, NY
Unless the creditors had some sort of security interest or lien against the asset, the creditors would have no right to "go after" the asset unless it was fraudulently conveyed, i.e. if the selling corporation transferred the asset as part of its deliberate attempt to hinder, delay, or defraud creditors, or if the selling corporation sold the asset for less than fair consideration at a time when it was insolvent, or was rendered insolvent by the sale. If there is no lien or security interest in the asset, and the buyer pays fair consideration for the asset, the risks from the sellers' creditors is minimal.
Answered on Apr 30th, 2014 at 2:47 PM