Schafer and Weiner Assists with Purchase of Auto Supplier
August, 2018
John Stockdale Jr. represented a private equity firm with acquiring the assets of a failing auto supplier. Schafer and Weiner analyzed various options to complete the proposed acquisition where the debtor-entity was cash poor and beset with judgment creditors. The acquisition was accomplished under Article 9 of the Uniform Commercial Code, which allowed the senior lender to quickly foreclose upon and sell the auto supplier’s assets to the private equity firm free and clear of junior liens.