The hardest segment of the Merger & Acquisition (“M&A”) market to obtain meaningful transaction data in terms of price and valuation metrics is the small-to-middle market. The 2004 International Network of M&A Partners (“IMAP”) Worldwide Transaction Survey Results provides such data. IMAP is a private network of M&A firms around the globe.
Included are summaries of cases that I thought members of the committee might find interesting. The summaries appear in date order beginning in April.
On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act (hereinafter, the “BAPCPA” or the “Act”). The Act has an effective date of October 17, 2005 and, with some exceptions, its provisions will apply only to cases filed after the effective date.
For the purposes of this article, consider the history and recent business practices of a company we’ll call JKL Shoes. JKL, a privately-held company, is a well-established, family-owned women’s footwear manufacturer. Consider these facts:
Empirical data suggests that companies that emerge from chapter 11 are more likely to file for “chapter 22” than those that never filed. In general, companies that emerge from bankruptcy protection never reach their former level of strength and vitality.
Young Conaway Stargatt & Taylor, LLP
CR3 Partners LLC
Pack Law, P.A.
Fort Lauderdale, FL
O'Melveny & Myers LLP
San Francisco, CA
Special Projects Leader
Fox Rothschild LLP