Schafer and Weiner, PLLC Assist with Sale of Bond Technology Company
John Stockdale Jr. and Howard M. Borin helped a technology company servicing the bond insurance industry to consummate a sale to a synergistic buyer. Schafer and Weiner’s assistance included negotiation and drafting of various transaction documents including the asset purchase agreement. Consummation of the transaction resolved many issues plaguing the seller and its equity members including litigation pending in the Kent County Circuit Court, State of Michigan by a vendor seeking $3 million in contract damages as well as various disputes among the equity members themselves. As a result of the sale, the seller’s business continues with the buyer, jobs were preserved, and guaranty liability was avoided. This was a great result for the seller and its equity members.