… I should mention it’s in the UK. It’ s no big deal I suppose but we want a license the company holds because it will save a lot of time and some money.
We’re looking to do the deal tomorrow (it’s at a good price), check everything out over the next couple of days and do the paperwork asap after that …
As best I know, we go see a lawyer or accountant, the existing shareholders/directors sell their shares to us, and we become the shareholders/directors?
In addition, the Internet says we need to check out …
The company’s existing credit arrangements (on going)
The company’s liabilities/debts (outstanding)
Any pending litigation affecting the company?
Is the company tied to premises (a lease, perhaps)
License: Impact for new owners of poor compliance?
Is the VAT account in good shape?
I guess I’m just looking for confirmation we are on the right track.