In an overlooked aspect of the recent New York Court of Appeals decision in Cortlandt St. Recovery Corp. v. Bonderman1, New York’s high court has allowed direct claims to move forward against two private equity firms for the...more
9/21/2018
/ Acquisition Finance ,
Alter Ego ,
Appeals ,
Bonds ,
Breach of Contract ,
Debt ,
Dismissals ,
Fraudulent Conveyance ,
Global Market ,
Indenture Trustee ,
Insolvency ,
NY Appellate Court ,
Piercing the Corporate Veil ,
Portfolio Companies ,
Private Equity ,
Private Equity Firms ,
Reversal
The question of when parties to a potential transaction actually become bound to each other is obviously an important one, and sometimes the answer can be surprising, or less than entirely clear. A recent Texas Court of...more
4/5/2018
/ Acquisition Finance ,
Acquisitions ,
Appeals ,
Bids ,
Borrowers ,
Breach of Contract ,
Confidentiality Agreements ,
Contract Formation ,
Contract Negotiations ,
Contract Terms ,
Dismissals ,
Email ,
Ground Leases ,
Lenders ,
Meeting of the Minds ,
Oil & Gas ,
Reversal ,
Reversible Error ,
Sellers
A delicate balance has evolved over time in leveraged acquisitions with respect to the nature of the contractual relationship between a target and its owners, on the one hand, and the debt financing sources of the buyer, on...more
10/5/2017
/ Acquisition Finance ,
Appeals ,
Bonds ,
Breach of Contract ,
Buyers ,
Competitive Bidding ,
Contract Drafting ,
Contract Terms ,
Credit Agreements ,
Debt Financing ,
False Statements ,
Lenders ,
Leveraged Buyout ,
Negligent Misrepresentation ,
Private Equity ,
Refinancing ,
Reversal ,
Sellers ,
TX Supreme Court
Basic to any acquisition and its financing are the projections of the target’s future performance. These play a key role in setting the price for the target as well as on the availability of acquisition financing. Projections...more
When a portfolio company underperforms, an equity sponsor will want to assess the degree of negotiating leverage the company’s lenders have against the company under the circumstances, which can play a significant role in...more
4/12/2017
/ Acquisition Finance ,
Appeals ,
Bankruptcy Court ,
Bondholders ,
Breach of Contract ,
Chapter 11 ,
Commercial Bankruptcy ,
Consent ,
Debt Restructuring ,
Default ,
Forbearance Agreements ,
Lenders ,
Post-Bankruptcy Covenants ,
Remedies ,
Subsidiaries ,
Trust Indenture Act ,
Vessels