by Koala321  18/04/2018  1 Comments  59 Page Views
Commercial law, litigation, contracts, IP, property law
Hello, I have got a vendor finance question.
I am currently in a business partnership with two other partners, unfortunately the business partnership has gone saur and I am looking to sell my share. I have a someone interested in purchasing my share but this person is unable to obtain finance from a bank. At this stage I am considering vendor financing the deal. Has anyone got experience in vendor finance? Particularly if it is possible to include a clause in the loan document, that in case of default or the business going bankrupt the money owed to me will be paid before any payments are made to other creditors. Business is incorporated company pty ltd.