Healthco International v. Hicks, Muse & Co.

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May 17, 1996

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3843 Dental Equipment and Supplies
339114 Dental Equipment and Supplies Manufacturing
bankruptcy
fraudulent transfer
Healthco International v. Hicks, Muse & Co.
195 B.R. 971, 1996 Bankr. LEXIS 553
US
Federal Court
Massachusetts
United States Bankruptcy Court
Valuation Research (solvency opinion)
Queenan

Summary

At issue are the fiduciary obligations of directors and controlling shareholders, breach of contract, negligence, gross negligence and bad faith.

See Also

Trustee Charges Directors, Financial Advisors, Others in Failed LBO

Legal and Court Case Update
August 1996

In this action, the Chapter 7 bankruptcy trustee brings the complaint against "65 defendants and the entire class of selling stockholders, virtually anyone who had anything to do with the LBO … defendants are the buyer, financing banks, debenture holders, directors, officers, controlling shareholders, financial advisors, lawyers and accountants."

This article also appears in:
Business Valuation & Bankruptcy Compendium, Third Edition