Melnick v Farrell  2015 NY Slip Op 03658  Decided on May 1, 2015  Appellate Division, Fourth Department is an interesting case about upstate inventors, selling an invention to another company, protection in a future bankruptcy proceedings, and how a multi-million dollar asset can be lost without attorney malpractice.

“Memorandum: Plaintiffs commenced this legal malpractice action

OK, so you want to buy a business.  The best advice is to get an experienced attorney, no?  What happens when the attorney fails to follow the directions of Tax Law § 1141(c)?  That section of the tax law is the bulk sales law, and it says that the purchaser must contact the Tax Department