The answer is "it depends"--it depends on how the business was structured, how it was sold, and who owns the claim against you.If the business was NOT an LLC or corporation, then you would owe the old owner--he's the person who had the legal claim.If the business was an LLC or corporation, BUT the LLC or corporation was not sold, just the assets, and the claim against you was not specifically assigned to the new owner, you'd pay the old owner--he still owns the business entity (the LLC or corporation) which you stole from and to which you owe money.If the business was an LLC or corporation and the new owner bought the actual LLC or corporation, you'd owe the new owner. (Technically, you still owe the LLC or corporation, but the new owner owns the LLC or corporation.)