Getting paid when a practice is sold

Re: Getting paid when a practice is sold

Evelyn Barbour-Hill — Sat, 02 Jun 2012 16:31:09 GMT

[quote user="An On MRCVS"]if the practice is sold, does 'my' debt get sold with it, making the new owners liable?[/quote]

Highly unlikely. If you buy a business one of the first things you get warned is "make sure you don't agree to take on the vendor's debts".

I fear you need to start dunning right now.

Re: Getting paid when a practice is sold

Hannah Wynne Richards — Sat, 02 Jun 2012 10:50:49 GMT

Tell the potentialbuyers NOW

Wynne

Re: Getting paid when a practice is sold

plantagenet — Sat, 02 Jun 2012 10:08:24 GMT

If sold as a going concern, you should have some sort of claim against new owners esp. if previous was limited company. If the new is new business and has just bought assets, then sadly no, but surely that would be unprofessional conduct by the old owner, if a vet - certainly ungentlemanly.

Re: Getting paid when a practice is sold

Rob Loxley — Sat, 02 Jun 2012 10:01:04 GMT

[quote user="An On MRCVS"]So my question would be, if the practice is sold, does 'my' debt get sold with it, making the new owners liable? Or does it still attach to the current owner?[/quote]

Sadly I think the answer is in the contract of sale between the current and new owner, but I'd guess the latter.