C
christina4501
Guest
What is the name of your state?wv
a gas and oil company has land that was purchased for $15 mil, but the land was drilled and found to be impaired and is considered now to be unproved land (no oil). so they wrote the land down to $9 mil on the books and recognized a $6 mil loss. now company b wants to buy this land, and is going to pay $43 mil for it. is it illegal for co. a to ask/take $43 mil for the land, when it's only worth $9mil? or should co. b have had the land appraised before negotiating with co. a? Would you look for fraud or misleading documents from co. a? or could co. b just have important plans for that land?
a gas and oil company has land that was purchased for $15 mil, but the land was drilled and found to be impaired and is considered now to be unproved land (no oil). so they wrote the land down to $9 mil on the books and recognized a $6 mil loss. now company b wants to buy this land, and is going to pay $43 mil for it. is it illegal for co. a to ask/take $43 mil for the land, when it's only worth $9mil? or should co. b have had the land appraised before negotiating with co. a? Would you look for fraud or misleading documents from co. a? or could co. b just have important plans for that land?