Two popular Vancouver Island restaurants change ownership

Two popular Vancouver Island restaurants changed ownership for an aggregate purchase price of $550,000. Key aspects of the two Share Purchase Agreements included vendor take-back financing, transfer of liquor licenses, assignment of commercial leases, issuing promissory notes, and securing general security agreements. Velletta Pedersen Christie represented the Vendors in this transaction with a team led by Sankar Nair, who attended to drafting and finalizing the Share Purchase Agreement and other ancillary documents, including a General Security Agreement, Intellectual Property Assignment Agreement, and Promissory Note.