Elliot Pisem and David E. Kahen Transferee Liability Under New York Law: 'Dillon Trust Co. v. United States'
Under some circumstances, sellers of stock of a corporation may be liable as transferees for corporate obligations arising before or in connection with the closing. In 'Dillon Trust Co. v. United States', the Court of Federal Claims concluded that the sellers of the stock of two corporations were liable for tax obligations of the corporations attributable to sales of assets for notes prior to the closing of the stock sale.
December 20, 2023 at 10:31 AM
9 minute read
Under some circumstances, sellers of stock of a corporation may be liable as transferees for corporate obligations arising before or in connection with the closing.
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