Re: Sounds a good idea
Not sure how it works on Simon's side of the pond, but over in the US companies typically only buy the assets of a target. On paper, the liabilities get left behind. Not sure how that works in practice and how many old debits or lawsuits you can escape.
It gets really funky if you read the fine print. BIGCO doesn't just buy VICTIMCO. The filings usually have a convoluted arrangement of shell companies that come and go in the meantime. So BIGCO creates a new company called Victimco Holdings LLC, which buys the assets of VICTIMCO, VICTIMCO essentially ceases to exists, then Victimco Holdings LLC gets merged into BIGCO.
Essentially it's a lot of high-priced suits figuring out how to squeeze out as much cash as possible, to hell with anyone else.
Biting the hand that feeds IT
