Insolvency Valuation Plays Key Role in Failed Million-Dollar Merger

Business Valuation UpdateVol. 15 No. 10
Legal and Court Case Update
October 2009

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2821 Plastics Material and Synthetic Resins, and Nonvulcanizable Elastomers
325211 Plastics Material and Resin Manufacturing
contract
Hexion Specialty Chemicals, Inc. v. Huntsman Corp.
2009 WL 294935 (Cal. App. 2 Dist.)
September 29, 2008
US
Federal Court
Delaware
Court of Chancery
Abigail M LeGrow, Alan S Goudiss, Andrew J Cheung, Berton W Ashman, Bradley W Voss, Bruce A Blefeld, Bruce L Silverstein, Christian Douglas Wright, Danielle Gibbs, David Gruenstein, David T Harvin, Dawn M Jones, Donald J Wolfe, Douglas K Mayer, Elaine P
Duff & Phelps (plaintiff); David Resnick (defendant)
Lamb

Summary

Delaware Chancery Court finds buyer knowingly and intentionally breached merger agreement by seeking insolvency opinion to derail financing and avoid liquidated damages.

See Also

Hexion Specialty Chemicals, Inc. v. Huntsman Corp.

Full Text of Court Cases
September 29, 2008

Delaware Chancery Court finds buyer knowingly and intentionally breached merger agreement by seeking insolvency opinion to derail financing and avoid liquidated damages.