FCPA Liability in M&A
From Forbes: The DOJ’s and SEC’s more stringent enforcement of the FCPA has important implications for mergers and acquisitions. According to Rebekah Poston, an expert anti-corruption practitioner at the international law firm Squire Sanders & Dempsey, American companies who neglect to conduct thorough due diligence when acquiring foreign companies risk inheriting or creating FCPA violations. Acquiring a foreign company requires the performance of a number of affirmative duties on the part of the acquirer.
Financing Options for Small and Middle-Market Companies
This article gives a brief description of a dozen common solutions for middle-market financing, including revolving credit, factoring, sale-leaseback arrangements, and more. I recommend it as a good starting point to evaluate the options for a small or middle-market business that needs cash (and can’t wait). It also points out the potential drawbacks of each option.
What’s the difference between “Middle Market” and “ABL”?
For most banks and finance companies with more than $1 billion in assets, commercial lending is typically segmented into Large Corporate, Middle Market, and Business Banking. “Middle Market” and these other segments are generally understood to describe a type of borrower, whereas “ABL” (asset based lending) refers to a type of loan.
Recapitalization: When does it make sense for your business?
For a business to “recapitalize” there must be some transaction where new capital comes into the business. Businesses recapitalize for many different reasons, including liquidity for shareholders, expansion capital, or repayment of debt.
Selling a Business: Anatomy of a P&S Agreement
Few legal documents you’ll sign in your lifetime are more complex or more daunting than the Purchase and Sale agreement that accompanies the sale of your business. While most sellers naturally focus their chief attention on purchase price and any hold-back amount, there
are often other terms within a purchase and sale agreement that can have greater impact on the final, long-term outcome for the selling shareholder(s).
SBIC Program: An Overview
SBICs are privately owned and managed investment funds, licensed and regulated by SBA, that use their own capital plus funds borrowed with an SBA guarantee to make equity and debt investments in qualifying small businesses.
Operating a Troubled Company? Read this.
Most CEOs and board members of troubled companies don’t recognize that the company is truly distressed until there is some “trigger” event—such as a covenant default, the loss of a major contract or a failed attempt to refinance.
SBA 7(a) Loan Program: An Overview
The 7(a) Loan Program is SBA’s primary program for helping start-up and existing small businesses to secure up to $2 million of bank financing.
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