The company is not yet in bankruptcy. They are transferring the assets out of the company prior to a bankruptcy filing.
Do try to keep up.
That is the whole argument. I do not consider any portion of their customer list to be a saleable asset. I am familiar with the nuts and bolts of several mom and pop landscaping companies and not a one of them has any real assets to transfer...and anyone with any sense at all wouldn't buy their customer list nor their company as a whole. They might realize a small amount from their physical assets, depending on the age of the assets, but not much.
They might own a couple of commercial mowers (1500.00 to 4500.00 new, 300.00 to 1200.00 used), a trailor, maybe worth 1k used, some small tools (most likely the personal property of the person using the small tools...like mechanics) etc. They rent anything truly big that they need, because otherwise its not cost effective. They work for people, not big commercial enterprises and they either specialize in one shot landscaping design or regular maintenance...mowing, weed wacking, with occasional bigger clearing out jobs. If they have contracts at all they are seasonal ones that either party could cancel at will.
A bankruptcy trustee isn't going to even bother going after the assets of a mom and pop landscaping business let alone its customer list. It would be too much effort for too little reward.
Nor would it be fraudulent or illegal in any way for their son to solicit the existing customers he serves for a business of his own.