(Prior guidance for Corporate quarterly net income (excluding Private Equity results, litigation expense and nonrecurring significant items) was approximately $200 million).
Here, BCE can force the private equity subsidiary to pursue litigation to draw on the debt and equity commitment letters.
Unsurprisingly, it concludes that, in his efforts to do "equity" through mass tort litigation, he has stretched these concepts quite far.
Three categories of litigation, concerning equity research, Enron and the allocation of initial public offerings (IPOs) during the boom, have had lawyers working all hours.Consider first the charge that Wall Street analysts puffed shares that their investment-banking colleagues were trying to flog.
One of the principal gating items for a transaction is the preparation of a complete Disclosure Schedule (disclosing key contracts, equity holders and options, litigation, intellectual property, exceptions to representations and warranties, and more).
When in the 16th century the Court of Chancery was established as the dispenser of "equity," the appropriate agent for litigation was called a solicitor, but the common-law serjeants and barristers secured the right of advocacy in that court.
We have a tax structure encouraging debt over equity, and we have a litigation atmosphere discouraging taking risk, going public and pushing the envelope.
The company has been embroiled in litigation with private equity firm Yucaipa after the firm's CEO Ron Burkle recently challenged the company's stockholders rights plan.
It handles equity cases involving civil rights and litigation concerning Delaware corporations.
Any litigation by the private equity firms against the banks over the terms of the debt commitment letter is going to look a lot like this recent dispute.
Adler's diverse industry background includes arranging debt and equity transactions, consulting and asset management, litigation support, and strategic planning for owners, investors, and lenders.
