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Posted By: boxingcardman

The Mastro contracts I have on file do not contain any provision allowing the assignment of the contract. I reiterate, to decide whether the contracts were lawfully assigned you would need to analyze IL law.

As far as an asset sale, yes, the idea is to get the assets out from under the liabilities of the assignor, but that goal is compromised when the assignee states in various ways that it is continuing the business of the assignor, not merely buying its assets. If I was a Mastro creditor looking at this situation, I would certainly consider suing Mastro, Legendary and Silk Road under an conspiracy to defraud theory or as alter egos of one another.

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