Posted on 08/01/2005 12:19:33 PM PDT by prairiebreeze
That's the point. If Piquant bought the assets then it paid for them (that's what 'buy' means), and the money would then have been available to pay the old company's creditors. If Piquant didn't pay the old company for the assets then it is not at all off the hook as far as that company's debts are concerned. This is not new territory in the law; the courts have been over it many times.
Good to see there's a New York newspaper with a better reputation for integrity and credibility than the New York Times on this story.
The Wall Street Journal has done a series of articles and editorials about the Grasso/Spitzer affair. If you have access to WSJ Online, a search there will pull them up for you.
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