Those seeking to purchase assets or a business out of a Chapter 11 case employing a “loan to own” strategy may well have received a boost from a recent decision of the U.S. Court of Appeals for the Ninth Circuit....more
2/13/2019
/ Acquisition Finance ,
Appeals ,
Asset Purchaser ,
Bad Faith ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Dual Class Share Structures ,
Global Market ,
Majority Voting Policies ,
Mortgage Lenders ,
Private Equity ,
Reaffirmation ,
Reorganizations ,
Reversal ,
Split of Authority
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