RE:Recent deals… Cynthia better keep those hashtags handy!
For anyone who’s wondering what is going on behind closed doors at USCG as they work towards brokering a sale for LME (or for anyone who’s just plain bored as we wait) this is a fairly good read. It really highlights fairness opinions and the role they play (especially in plan of arrangement transactions) as well as exposes some of the pitfalls of fairness opinions. It’s a fairly lengthy read so get some popcorn.
As a note… I really liked the third point detailing fixed fees vs success fees. Knowing the 250k payment hinges on a COMPLETED deal and knowing that neither USCG or Cynthia would waste their time chasing their tails really helps me sleep at night and only further makes me feel like something is close!
article posted here:
https://www.nortonrosefulbright.com/en-ca/knowledge/publications/eb524765/judicial-scrutiny-of-fairness-opinions