Negotiating Restaurant Purchase and Sale Transactions: Key Legal Issues for Buyers and Sellers
Due Diligence, Closing Contingencies, Reps and Warranties, Indemnification, Licenses and Permits
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will discuss the critical legal issues in the purchase and sale of restaurants.
Outline
- Nature of the transaction
- Pre-contract due diligence
- Adjustments to price and security for deferred payments
- Contingencies to closing including liquor license contingency
- Representations of buyer and seller
- Indemnifications
- Preparation for and closing
Benefits
The panel will review these and other key issues:
- Why are seller representations and warranties so critical in the purchase of a restaurant?
- What are the different ways to structure a restaurant purchase and sale transaction?
- What are best practices for drafting representations and warranties that protect both buyer and seller?
- What are the best ways to handle the buyer's ability to secure required licenses and permits (including a liquor license)?
- What are the unique issues involved in the purchase of a restaurant property to include in the closing contingencies of the purchase and sale agreement?
Faculty
Donald M. Bernstein
Co-Founder and Managing Member
Bernstein Redo
Mr. Bernstein, with over 30 years of experience, is one of the most recognized and respected names in New York in the... | Read More
Mr. Bernstein, with over 30 years of experience, is one of the most recognized and respected names in New York in the hospitality-law field. He represents restaurant and bar owners in the purchase and sale of their retail business, drafting and negotiating store leases, preparing consulting and management agreements, and has particular expertise in the licensing of private members clubs such as Soho House. Mr. Bernstein also counsels clients on liquor licensing, having filed hundreds of liquor license applications for hotels and restaurants and appearing before the New York State Liquor Authority and the local community boards regularly.
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Robin Zeidel
Founder
Zeidel & Associates
Ms. Zeidel provides comprehensive legal counsel for commercial real estate, development, and architecture, design and... | Read More
Ms. Zeidel provides comprehensive legal counsel for commercial real estate, development, and architecture, design and construction transactions and disputes, with a particular focus on the hospitality sector. Her areas of practice include the sale and acquisition of real estate and related businesses; architecture, design and construction transactions; retail lease and management agreements, office space leasing transactions and other general real estate and contract work, including all varieties of operational and service contracts. Ms. Zeidel represents both owners and operators in selling, acquiring, developing, leasing and operating their assets and managing the complex relationships and operational challenges associated with their properties.
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