Though the shareholders of a corporation did not sign a corporate sale agreement, they were considered to be the sellers of the corporation, and therefore were entitled to avail themselves of the indemnification provisions under the agreement, ruled the Bankruptcy Court for the Eastern District of Pennsylvania. See In re NuNet, Inc., 348 B.R. 300 (Bankr. E.D. Pa. 2006).

A purchaser of a business who fails to consider the seller's Georgia sales and use tax obligations does so at the purchaser's own peril. In the recent tax case of JD Design Group, Inc. v. Graham, the ruling by the Georgia Supreme Court makes that point all too clear.

Background

The recently passed federal appropriations bill provides a mechanism for certain terminated auto dealers to seek relief through arbitration. If the dealer succeeds in the arbitration process, the manufacturer is required to enter into a letter of intent for a sales and service agreement with that dealer.

Auto Dealers Eligible for Arbitration