The Motor Carrier registration should have been worked out in the Disclosure Schedules. If they are not transferable and are needed to run the business, the Seller should have told us on the "Non-Assignable Permits" schedule, so that we (i.e., our client) would know and could either have the individual re-apply post closing or make sure we have it in-house. This is part of the learning process that the young attorney that is handling the disclosure schedules and diligence needs to keep track of in an M&A deal so that day #2 after closing we don't have a problem running the business.
That last part is all that matters, layman translation = you should have had a supporting role in Life Goes On, Corkie.
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