Broker-Dealers Business & Commercial Litigation Business Restructuring California Consumer Privacy Act Capital Markets Capital Solutions & Private Credit Charitable Foundations China Life Sciences Committee on Foreign Investment in the United States (CFIUS) Consumer Protection and Advertising Law Corporate & Securities Litigation 6. at *3 (quoting In re Sharp Int'l Corp., 403 F.3d 43, 53 (2d Cir. to hinder, delay, or defraud either present or future creditors." 1991) (unpublished table decision). R. Civ. 1984) for the proposition that under New York law, opinions are actionable in a negligence context.
Wellspring Capital Management - Crunchbase The portfolio manager is also a co-investor in the strategy.
Friedman v. Wellspring Capital Mgmt. - Casetext Wellspring has earned the reputation as a trusted, reliable partner and is often the preferred partner of a portfolio companys senior management team. 1988) (adopting rule from Klaxon Co. v. Stentor Electric Manufacturing Co., 313 U.S. 487 (1941) stating that a federal court sitting in diversity should apply the choice of law rules of the state in which it sits). 401(k)/403(b) Plan Litigation Risk Management, Analytics & Behavioral Science Consulting (R&G Insights Lab), Committee on Foreign Investment in the United States (CFIUS), E-Discovery, Discovery Strategies & Data Analytics, Executive Compensation & Employee Benefits, Government Enforcement / White Collar Criminal Defense, Life Sciences Licensing, Collaborations & Joint Ventures, The Music Stops on the Texas Two-Step: Third Circuit Dismisses LTL Bankruptcy Case. An actual fraudulent conveyance is any "conveyance made . Id. [Amended Complaint, 32]. "); Terry v. Walker, 2006 WL 736861, at *5 (W.D. A social media content creator signed an agreement with Birchbox in May of 2022 and hadn't been paid the $2,500 due as of Jan. 24, despite several emails to the company.
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McDermott Will & Emery LLP > San Francisco > United States | The Legal Wellspring targets investments with the following characteristics: Make your practice more effective and efficient with Casetexts legal research suite. Private equity firm Wellspring Capital Management has acquired Caring Brands International, parent company of home health and hospice franchise company Interim Healthcare, for an undisclosed amount.
Seth Pearson - Managing Director - Private Equity - York Capital Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Their most recent investment was on Jan 1, 2020, when Steele Solutions raised Federal Rule of Bankruptcy Procedure 7012(b) provides that Federal Rule of Civil Procedure 12(b) applies in adversary proceedings. Wellspring Capital Management, founded in 1995, is a leading middle-market private equity firm that manages more than $3 billion of private equity capital. 85]. Wellspring Capital formed SportCo Holdings, Inc. ("SportCo") to serve as a holding company for United Sporting Company, Inc. ("United Sporting"), Ellett's direct parent; Ellett; and its subsidiaries. Wellspring Capital Management Fund Manager Website www.wellspringcapital.com Fund Category Private Equity Close Date 0000-00-00 Fund Family Wellspring Capital Partners Native Currency USD Fund Manager's Location 605 Third Avenue 44th Floor New York, NY 10158 United States +1 (212) 000-0000 Fund Domiciles Canada These tools have been used since the firm's inception in 1995 to generate consistent business improvement in its portfolios. A second amendment to the Loan Agreements (the "Second Amendment") was executed on September 30, 2014. The Firm will consider buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, shareholder liquidity needs, partnering with entrepreneurs for growth opportunities, and special situations. While property interests are defined by state law in the absence of a compelling federal interest, the Court would look to the Bankruptcy Code in making a determination of whether property is property of the estate under section 541. View Videos.
Wellspring Capital - Middle Market Private Equity Oct. 14, 2021) (Stickles, J.) California Weighs $360,000 in Reparations to Eligible Black Residents.
Munich | Germany, History, Population, Oktoberfest, & Facts - Britannica In support of this argument, the plaintiff cites a case from the United States District court for the District of Idaho, which was affirmed by the Ninth Circuit, as well as a case from the United States Bankruptcy Court for the Southern District of Texas, in which the court stated that 544(b) claims are unique "because they exist only to the extent of applicable state law," but then found, "Even so, such claims are not pendant state claims in federal bankruptcy cases, but are federal causes of action rooted in federal bankruptcy law and policy." Designed By, https://www.wellspringcapital.co.uk/disclaimer. Private equity firm Wellspring Capital Management LLC on Friday hit a slew of its insurers with a suit in New York state court alleging they must defend it against claims that it plundered . The South Carolina Supreme Court stated that New York law would govern the validity of the transfer before it, unless applying New York law would result in a violation of South Carolina public policy. with actual intent . ~p03ngx1Ai63*oP 4TP3Nt'xn0R8tJ'a7D2P6ILky6L;0;0SUNrtd t
";Qb[K-Ii 1g%\i) IZ3uAH0J40v0xt0v40Xt8 y CJ3t@y`$21kL Wellspring Capital Management LLC Chief Executive Officer Bill Dawson has taken a leave of absence, days after a former employee alleged in a lawsuit that he threatened her for accusing his son of sexual assault. I Shall [Not] Be Released: Wellspring, Director Releases, breached their duty of care, since the directors refused to reasonably maximize corporate value by killing the restructuring on account of releases/indemnity (, breached their duty of loyalty, since they placed their own self-interests above those of their fiduciaries [. A former employee of Wellspring Capital Management filed a lawsuit in a New York Thursday alleging that the CEO's son, Christopher Dawson, drugged and repeatedly raped her one night in the. This article about a private equity or venture capital firm based in the United States is a stub. Since its founding in 1995, Wellspring has raised over $4.0 billion of initial capital commitments through .
wikipedia.en/Vatterott_College.md at main chinapedia/wikipedia.en Industry: Investment & Asset Management. Time to Read: 6 minutes
Mr. Friedman filed an amended complaint the same day. We look forward to carrying forward that vision and continuing our success in the years ahead.". Aug. 27, 2020). The firm functions as a strategic rather than tactical partner, providing management teams with top-line support, M&A experience and financial expertise, and access to resources. We work with successful motivated individuals to help them achieve their investment and wealth management objectives. 544 and 550 and S.C. Code 27-23-10; and (3) negligent misrepresentations against Wellspring Capital, Mr. Carles, and Mr. Johnson. %%EOF
3d 341, 357 (D.S.C. Wellspring Capital Management is a middle-market private equity financing firm. By teaming up with strong management, Wellspring seeks to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The principal and lead portfolio manager at Wellspring Capital is Avrohom Neumann. An action with multiple causes of action was commenced by Prospect Capital Corporation in South Carolina state court and was removed to this court on September 6, 2019. The adviser's REGISTRATION status is listed below. The plaintiff's third cause of action, for negligent misrepresentation against defendants Wellspring Capital, Mr. Carles, and Mr. Johnson, must also be dismissed. at 382. In 2010, Bain Capital acquired the company for US$1.8 billion. EFFECTIVE DATE; SEC: Terminated: 3/2/2007: 2008) (citing Southmark Corp. v. Crescent Heights VI, Inc. (In re Southmark Corp.), 95 F.3d 53, 53, n.7 (5th Cir. Brought up in a family enjoying long-term success in real estate investment, Avrohom instead turned to the stock market. Type: Company - Private. The Wellspring court was ruling on a motion to dismiss, and therefore accepted the plaintiffs somewhat barebones and perhaps self serving assertions as true and in the light most favorable to that plaintiff.
Friedman v. Wellspring Capital Mgmt. (In re Sportco Holdings) [Amended Complaint, 31]. Accordingly, Wellspring reinforces the importance of disinterested governance and arms length dealing in connection with the restructuring process. 1994)). 23, 2006) (stating that some courts characterize fraudulent conveyance actions as tort actions, while others characterize them as matters in equity). By teaming up with strong management, Wellspring is able to unlock underlying value and
Antares Capital Supports Wellspring Capital Management's Acquisition of Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. Id. My company, Asia Marketing and Management, has global ambitions but consists largely of me and the intelligence, experience, contacts, and per-sonality I bring to my clients . Investment Approach Target Investments Wellspring's objective is to acquire or invest in companies that are well-positioned to capitalize on change and can benefit from Wellspring's operating and financial expertise.
Working at Wellspring Capital Management | Glassdoor Federal Rule of Bankruptcy Procedure 7012(b).
Wellspring CEO Takes Leave After Son Accused of Rape in Lawsuit to negotiate for release or indemnification, with the defendants arguing that such releases may have saved the post-restructuring company the expense of indemnifying the D&O Defendants in subsequent litigation. PLEASE SEE THIS LINK FOR FULL DISCLAIMER: This site is for informational purposes only. Div. Bill Dawson is taking time off from his $2.2 billion private equity firm Wellspring Capital Management, which will investigate the claims of Dawson's threats, according to an internal memo. Otherwise you cannot get paid." By teaming up with strong management, Wellspring is able to unlock underlying value and. Ellett Brothers LLC ("Ellett"), a South Carolina limited liability company, was a sporting goods distributor. New York law requires insolvency at the time of the transfer, and South Carolina law requires insolvency both at the time of the transfer, and at the time the creditor seeks to collect the debt. Therefore, the plaintiff argues that he is only required to establish constructive fraud. %PDF-1.5
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The defendants asserted common arguments in support of dismissal, but all arguments made in support of dismissal were not asserted by each defendant. F. Hewitt Grant asserted the lack of a triggering creditor due to Prospect Capital Corporation's knowing participation in the transfers and failure to state a claim under New York law due to lack of insolvency and under South Carolina law due to failure to plead actual fraud. It is not intended as and should not be construed as financial, investment, tax, legal, regulatory, or other advice. Wellspring Capital Management is an American private equity firm focused on leveraged buyout investments in middle-market companies across a range of industries. In Fall 2018, SportCo Holdings, Inc. (SportCo) was facing severe financial distress. Menu Home; Rankings. It identifies undervalued companies whose share price does not properly reflect the true value of the business. These emails can hardly be considered negligent misrepresentations. Crazy 8 was started in August 2007. Because the Court dismisses the complaint as to all other defendants, the Court sua sponte dismisses the causes of action against Mr. Ziomek as well. The amended complaint contains no allegations that either Ellett, with respect to the first cause of action, or SportCo, with respect to the second cause of action, was insolvent at the time of the distributions or became, at the time of the transfers, insolvent as a result of the transfers. Password (at least 8 characters required). 92], Todd Boehly [Docket No. App'x 143 (4th Cir.
Wellspring Capital Management, LLC; Wellspring Cap v Barry, III et al David R. Duncan US Bankruptcy Judge District of South Carolina. Defendant Bernard Ziomek is in default in this matter. The Wellspring Defendants asserted all of these arguments and also asserted failure to state a claim under section 550 against certain defendants. Our tight-knit culture enables transparent oversight and a streamlined decision-making process. Relevant here: the plaintiff/litigation trust alleged that SportCos directors: Finally, the litigation trust also asserted a variety of other counts in its complaint related to other facts, circumstances, and actions that are not the subject of this Alert. Investors in its most recent fund include the Washington State Retirement System, Minnesota State Board of Investment, Connecticut Retirement Plans & Trust Funds, Kansas Public Employees' Retirement
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