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I sold a furniture store, and the new owner is defaulting on promissory notes. I'm going to put him on notice, then file suit, but in the meantime, all of the assets are disappearing, so I'll get back a virtually worthless shell. What other actions can I take?
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Stop asking here and get yourself an attorney, pronto! What kind of a sale agreement did you have? What are your rights under that agreement? Did the Buyer sign personal guarantees for the note? Again, an attorney is critical, and fast.
Web reference: www.bafgroup.com