As a business descends into financial distress, it commonly enters into discussions with its creditors concerning a viable path forward to stave off a bankruptcy filing or liquidation. Either as the first step in a series of agreements or as part and parcel of a...

Devising protocols to protect the lifeblood of a company is a worthwhile investment. To adequately protect confidential information, employees must be deterred from pillaging a company’s valuable information. Equally important, an employer must take adequate steps to protect the information so that it will be deemed confidential and proprietary by...

Overview

As predicted in our last update, the anticipated rise in capital gains taxes continues to drive significant capital gains activity among private companies. We are now over two years into a strong, bullish cycle fueled by pent-up demand for deals, accommodative senior lenders, and a return to normalized...

Overall M&A activity and private equity deal flow has continued to be relatively soft thus far in 2012, and the IPO market remains difficult as an exit vehicle for both PE portfolio companies and other private businesses. These factors, combined with the historically low interest rate environment and the return to life of the leveraged...

Introduction

The trucking industry has faced challenges over the last few years as a result of the recession. Consumer spending decreased, as did demand for the freight transit of goods, which consequently led to a decline in industry revenues of 17% in 2009. Although the...

Introduction

Given the economic turmoil observed across a variety of industries in recent years, the possibility of preference demand letters has been a significant concern for creditors of all types. According to §547 of the Bankruptcy...

Introduction

Under the provisions of the U.S. Bankruptcy Code (the “Code”), a plan of reorganization may be confirmed over the objection of creditors (the so-called “cramdown”) provided that certain conditions are satisfied. Regarding secured claims, reorganization plans may...

On January 19, 2005, after a prolonged downturn in the energy market following the 2001 recession, Mirant Corporation and its related entities (“Mirant” or the “Debtors”) filed a joint Chapter 11 plan of reorganization. Mirant is engaged in the business of producing and marketing electric power in the United Sates, the Caribbean, and the...

"Sunshine is the Best Disinfectant"¹

Since December 2010, the Delaware Court of Chancery has emphasized in at least four cases the need for additional disclosures relating to financial advisors in merger and acquisition (M&A) transactions. The court has focused on increasing the...

Industry Overview

The global aerospace industry can broadly be categorized into two sectors. The commercial aerospace sector consists of companies that produce large commercial aircraft, regional aircraft, light aircraft (such as helicopters and business jets), aircraft engines, parts and auxiliary equipment, and commercial satellites. Dominated by Boeing in the...

In times of economic depression or recession, one indicator of a possible recovery can be an increase in the number of merger and acquisition transactions. As the number of merger and acquisition transactions increase, disputes arising from these transactions are also likely to increase.

Post-acquisition disputes generally fall...

Christopher P. Casey: Before even discussing the appraisal report, perhaps we should address the merit of the appraiser performing the work? What should attorneys look for in determining whether or not the appraiser is qualified for the matter at hand?

John W. VanSanten...