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How to avoid possible liabilities before buying an existing business
Hello
I am planning to buy an existing sole establishment company in Dubai. How can I inquire if the company has any existing loans?
Also, once I buy the company, will I be liable for the payments of the existing business loans taken by the old owner?
The email was wrong in the previous question.

Premium
Colin Biggers & Paisley Lawyers (Middle East)
21 Apr 2021, 07:18
Dear Questioner,
We can do due diligence on the company and find out the details with respect to the liabilities of the company.
After performing due diligence, if we find out that the company has liabilities with respect to loans and /or outstanding payments, then we can draft an agreement between you the previous owner accordingly.
Please contact me on the phone or write to me at my email for detailed discussion and assistance.
Thanks
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