A successful purchase depends not just on negotiating a two-party transaction, but rather navigating the applicable process and dealing with all the competing interests successfully to allow a bid to succeed and closing to occur.
Q: Do opportunities exist for asset buyers in times of distress?
USA, Banking, Insolvency & Restructuring, Nutter McClennen & Fish LLP, US Department of Justice, Title 11 of the US Code
In a recent judgment, HHJ Cooke found in favour of the defendant solicitors in a claim by the Trustees in Bankruptcy of Clifford Shore that Irwin Mitchell had failed properly to advise Mr Shore as to the risk of pursuing litigation that was subject to limitation arguments.
Kevin Hellard, Amanda Wade v Irwin Mitchell [2013] EWHC 3008 (Ch)
Background
United Kingdom, Insolvency & Restructuring, Legal Practice, Litigation, Womble Bond Dickinson (UK) LLP, Bankruptcy, Solicitor