The buyer leased the auto dealership real estate. It purchased fire insurance coverage. After the facility was destroyed the buyer made a claim for coverage. The carrier denied coverage because the buyer did not own the building, nor did the…
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Buyer’s Responsibility for Asbestos Claims Punitive Damages
Explore the implications of punitive damages in asbestos claims within M&A deals. Learn from the case of Parker Hannifin Corp. v. Standard Motor Products, Inc. October 31, 2019 Introduction: Liability related to asbestos claims is a common concern for manufacturing…
Texas Court Narrows Reach of Noncompete Agreement in Grocery Store M&A
Explore a significant M&A case in Texas where a court restricted the geographic reach of a noncompetition covenant in the sale of Hispanic grocery stores. The buyer, owner of La Michoacana and El Ahorro chains, faced noncompete breaches, leading to…
Posted in covenant not to compete, reformation Tagged with: appellate court, breach of agreement, business goodwill, Court of Appeals of Texas First District Houston, damages, El Ahorro, geographical area, Hispanic grocery stores, Houston, Irving, La Michoacana, limitations, M&A Case, Mi Rancho, noncompete agreement, Oklahoma, Oklahoma City, Ortega v. Abel, Pasadena, Punitive damages, reasonable noncompete, scope of activity, Texas, Texas court, time
Buyer Breach of Required Insurance Provision in Acquisition Documents Result in Punitive Damages
Dive into a cautionary M&A tale emphasizing the significance of contractual compliance. Explore a legal case where a buyer’s breach of insurance provision in acquisition documents led to punitive damages. Learn valuable lessons on the importance of adhering to contractual…
Posted in insurance requirements, punitive damages Tagged with: Acquisition Documents, actual-cash-value insurance, business law, Business Transactions, Buyer Obligations, Case Study, Contractual Compliance, Contractual obligations, Court Case, industry compliance, Insurance Coverage, Insurance Provision, Legal Disputes, Legal lessons, Legal Liability, M&A legal issues, Mergers and Acquisitions, Punitive damages, replacement-value insurance, Risk mitigation, Seller Rights
Avoiding Pitfalls: Securing Buyer’s Payments in M&A Transactions
Explore the complexities of M&A transactions through a cautionary tale highlighted in a recent Ohio court case. Dive into the legal quagmire faced by a seller due to a buyer’s failure to honor post-closing payment commitments. Learn how meticulous planning…
Posted in securing buyer's note Tagged with: asset purchase agreement, attorney fees, business law, buyer's payments, Case Study, conversion claim, Courtroom Drama, financial obligations, Financing statement, legal pitfalls, legal protocols, legal quagmire, liquor permit, M&A Transactions, Ohio court case, post-closing obligations, proactive measures, promissory note, Punitive damages, Risk mitigation, security agreement, seller's predicament, seller's recourse, third-party purchaser, Uniform Commercial Code
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