Purchase & Sale of Business

Getting It Right the First Time

Regardless of which business model you are purchasing, due diligence – getting it right to begin with – can potentially save a great deal of aggravation and money at some point in the future. Sometimes it’s a case of not even knowing the right questions to ask.

We at Howard Nightingale, do:

To implement the PURCHASE of a business Howard Nightingale provides the following services:

• Review the executed agreement of purchase and sale.
• Request the statement of creditors under the Bulk Sales Act and tax clearance certificate under the Retail Sales Act.
• Search for arrears of business taxes, corporation taxes and other taxes and/or rates constituting statutory liens.
• Review the bill of sale.
• Prepare any personal property security agreement.
• Search under the Bill of Sale Act, Corporation Securities Registration Act, Bankruptcy Act, Personal Property Security Act, Bank Act and other applicable legislations.
• Search for executions.

To implement the SALE of a business and assets, Howard Nightingale provides the following services:

• Review the executed agreement of purchase and sale.
• Prepare the bill of sale.
• Prepare a statement of creditors under the Bulk Sales Act.
• Obtain a tax clearance certificate under the Retail Sales Act.
• Prepare a statement of adjustments.
• Prepare insurance releases.
• Collect and remit retail sales tax.
• Prepare a statement as to payment of creditors (if required).
• Prepare consents or waivers from creditors of the seller and prepare statement of affairs.
• Attend and complete closing.
• Report to client.

If you have any questions or concerns about purchasing or selling a business please contact Howard Nightingale.