Bulk transfer: What it is and why business investors should know about it

BY DONALD V. CALVO

 

Bulk transfers. The term conjures up images of massive shipping vessels exchanging cargo in exotic ports as they cross the globe in the never-ending pursuit of international commerce and the exchange of goods worldwide. Unfortunately, the legal term couldn’t be any less exciting. Its statutory definition is “any transfer in bulk and not in the ordinary course of the transferor’s business of a substantial part of the materials, supplies, merchandise or other inventory of an enterprise …,” subject to Division 6 of the Uniform Commercial Code as adopted by Guam . . .

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