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Because.. that's not how any of this works? You can't just transfer the assets of one company into a new one and let the old one go into administration with it
by stefan_ 7y ago
Because.. that's not how any of this works?
You can't just transfer the assets of one company into a new one and let the old one go into administration with it's liabilities. The administrator will undo any such transfers and you will go to prison.
- anovikov 7y agoWasn't this how banks, automakers, etc. were liquidated at about the same time in ~2009? Say General Motors simply offloaded all stuff it didn't need into Motors Liquidation Co and that one was bankrupted, all good stuff moved in new General Motors.
- cosmodisk 7y agoDon't vbe so sure. Yoy can't do it as simply as you described but there are many ingenious ways to arrive to the same destination and not being on any hook whatsoever.Remington case is a very good example of how it's being done.