(Download) "Mullins v. Testamerica" by United States Court of Appeals for the Ninth Circuit * Book PDF Kindle ePub Free

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eBook details

• Title: Mullins v. Testamerica
• Author : United States Court of Appeals for the Ninth Circuit
• Release Date : January 30, 2009
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 89 KB

Description

In 1998, Plaintiff Billy Mullins sold all the assets of his company to Defendant TestAmerica, Inc. in exchange for cash and an unsecured promissory note payable to Mullinss company, renamed Faraway Enterprises. TestAmericas obligation to pay the note was subordinated and subject to the prior payment in full of all of TestAmericas "debt facilities." TestAmerica fell on hard times, winding up with approximately $50 million in debt. In 2003, TestAmerica sold all of its assets to a third party in exchange for $33.5 million.

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