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About the Teleseminar
In a difficult economy, “asset deals” are much more prevalent than “stock deals.” The buyer prefers to acquire only specific assets of the seller rather than the seller’s entity and the liabilities and other troubles that may go with it. The seller prefers a “clean” deal, where the buyer takes the entity, all of its assets, employees and operations and liabilities. But even when a seller agrees to an asset-only sale, there are real limits to the structure. Among others, common law and statute frequently impose successor liability on the asset buyer. This program will provide you with a real world guide to planning, structuring and drafting asset purchases, including special due diligence and letter of intent issues, the form of consideration for the transaction, successor liability and creditor issues, major tax considerations, and special challenges in transferring specific types of assets.
Day 2: June 4, 2013:
- Post-closing issues, including what happens to the seller’s entity?
- Successor liability, creditor claim, and unknown liability issues – allocating the risk among the parties
- Employee issues –what if the buyer wants to retain seller employees?
- Major tax issues, including IRC Section 338(h)(10) and state transfer tax issues
- Special considerations when the seller is a pass-through entity
About the Speakers
Tyler J. Sewell is an attorney in the Denver office of Morrison & Foerster, LLP, where he specializes in mergers and acquisitions. He focuses his practice on advising financial and strategic buyers and sellers in public and private M&A transactions and complex corporate transactions. He negotiates and documents leveraged acquisitions, divestitures, asset acquisitions, stock acquisitions, mergers, auction transactions, and cross-border transactions. Mr. Sewell received his B.S., with merit, in ocean engineering from the United States Naval Academy and his J.D., magna cum laude, from the University of Pennsylvania Law School.
Darren Hensley is a partner with Polsinelli Shughart, PC, where his practice emphasizing a wide variety of corporate, securities, mergers and acquisitions, financings and general business law matters and transactions. He has significant experience with mergers, stock sales and purchases, asset sales and purchases, and public and private offerings of debt and equity. Mr. Hensley received his B.A., magna cum laude, from Missouri Western State College, his M.B.A. from the University of Kansas Graduate School of Business, and his J.D. from the Kansas School of Law.
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour (Tentative)