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Does a civil/criminal Judgment against the Founder of a company impact his/her ability to sell the company?

A significant judgment was against me was awarded, resulting from an ugly dispute with a previous business partner. All this is now public record--including the unfounded allegations he made against me. How might this impact my ability to sell my company ?

Answers

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

It will collie the reason you may be selling, making the buyer think they can get a cheaper price because you're in a personal financial bind.
Also sure it is evident tab the company is un-encumbered by the judgement.

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |
Dawn Hall
Title: Chief Financial Officer
Company: Bionix Development Corp
(Chief Financial Officer, Bionix Development Corp) |

If you have bank financing for the company that you have personally guaranteed, it could be a problem.

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