Do I have to pay a bill from previous owner?

Hi, We bought a business couple of months ago, and now a bill for software we are not even using came, saying the previous owner was in contract with them until the end of this year. Do we have to pay them as we gave them a notice about taking over and to discontinue their services?  They did discontinue but still charging us the full amount? What can we do now? It’s a limited liability company.

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Alasdair Taylor's Answer

Presumably it is a company debt. A purchase of shares in a company would not usually change the status of any company debts. You should look carefully at the contractual terms between the company and the supplier in order to gauge the extent of their rights and yours. I’m afraid I can’t provide specific guidance here: there are far too many unknowns.

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