Company Takeover / Outstanding Invoices

Zacs-Master | 10:43 Mon 02nd Jun 2014 | Business & Finance

1 Answers

1. Is there such a thing as a standard procedure when one company takes over another for dealing with invoices owing?
2. How is work which has been carried out but un-invoiced handled?

One of our main clients is, reputedly, being taken over by a larger company and we find ourselves with a not insignificant amount owing on both sides of the above.

Many thanks.

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chrissa1

Best Answer

I would have thought that due diligence would have been done by the company who has taken over your client's company and therefore they would know who their Creditors are. If the company is being taken over as a going-concern, then it would make sense to keep sub-contractors on-side. Therefore, re-invoice the new company.

11:02 Mon 02nd Jun 2014

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chrissa1

I would have thought that due diligence would have been done by the company who has taken over your client's company and therefore they would know who their Creditors are.

If the company is being taken over as a going-concern, then it would make sense to keep sub-contractors on-side. Therefore, re-invoice the new company.

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