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When you buy a company you buy all of its contractual obligations. You don't get to choose to not honor some of them without legal repercussions.
by phyzix5761 1y ago
When you buy a company you buy all of its contractual obligations. You don't get to choose to not honor some of them without legal repercussions.
- flotzam 1y agoThey're saying they didn't buy the company - just some assets they liked, among them an intangible one: the brand...
- robertlagrant 1y agoYes, this is it. What is a company? Can you buy all the fun stuff and leave the liabilities?
- flotzam 1y agoFor unencumbered assets I don't see why not, but extending this logic to the brand seems fraudulent: It's unlike other assets because the (original) company crafted it to represent the whole service in the mind of the customer.
- robertlagrant 1y agoYes, I agree. But I can see how it's nebulous if you peer closely enough that you can't see the wood for the trees.
- anon373839 1y agoI’m curious to know what the announcements to existing customers said when they were transferred to the new company. I doubt it read: “the company you signed up with is bankrupt, but we cherry-picked its assets - want to go with us?”
- razakel 1y agoThe company that bought it is owned by the same guy. He knows it's bullshit.
- dragonwriter 1y agoThat’s true, which is often a reason that people don't buy failing companies at all, instead buying selected assets (including things like the trademarks and brands) and letting the actual original company go out of business. This can happen in bankruptcy, particularly, but that's not the only way it happens.
- tledakis 1y agoyes, what happened to due diligence? sounds like a BS excuse to cancel the subs.
- IAmBroom 1y agoThey did due diligence. They're lying.