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https://dealbook.nytimes.com/2008/10/30/hexions-complaint-against-the-banks/
Oct 30, 2008 · In the least shocking event of the week, Hexion Specialty Chemicals on Wednesday filed a complaint in New York state court, suing Credit Suisse and Deutsche Bank.These two banks have balked at financing Hexion’s acquisition of Huntsman.. In suing its lenders, Hexion is following a well-worn path previously followed in the Clear Channel and Genesco/Finish Line litigations.
https://businesslawtoday.org/2014/02/revisiting-mae-mac-clauses-in-ma-after-cooper-t/
Feb 18, 2014 · Hexion (through Apollo) sought a written opinion of Duff and Phelps of the likely insolvency of the combined companies post-closing. After obtaining such an opinion, without any input from, or the knowledge, of Huntsman’s management, Hexion forwarded it to Credit Suisse and attached the opinion to the complaint that the company filed in Delaware.Author: Lisa R. Stark
https://www.law360.com/articles/71274/in-hexion-rare-guidance-on-material-adverse-effect
Oct 01, 2008 · As a result, Hexion contended that it was unable to secure financing to close the merger either pursuant to Credit Suisse’s and Deutsche Bank’s commitment letter or from any alternative source.
https://www.law360.com/articles/548172/apollo-credit-suisse-deutsche-bank-sued-over-failed-merger
Investors in global chemical company Huntsman Corp. on Friday sued Apollo Global Management LLC and American units of Credit Suisse Group AG and Deutsche Bank AG, alleging they made material ...Author: David Mcafee
http://www.potteranderson.com/delawarecase-414.html
Sep 29, 2008 · Credit Suisse and Deutsche Bank signed a commitment letter to provide financing for the merger. After it received Huntsman’s first quarter results from 2008, however, Hexion grew concerned that the combined entity would not be solvent, and engaged Duff & …
https://www.lexology.com/library/detail.aspx?g=4c940873-46a7-4a34-9665-c04ab0e4bfcb
Sep 29, 2008 · The Court found that Hexion breached this obligation by (1) taking its concerns about solvency public by filing its complaint, and (2) sending Credit Suisse and Deutsche Bank copies of …
https://www.nytimes.com/2008/06/19/business/19chemical.html
Jun 19, 2008 · As a result, Hexion argued in its complaint, the two banks that committed to financing the deal Credit Suisse and Deutsche Bank would be unlikely to provide $15.35 billion in debt needed to ...
https://www.americanbar.org/groups/business_law/publications/blt/2014/02/delaware_insider/
Feb 28, 2014 · Hexion (through Apollo) sought a written opinion of Duff and Phelps of the likely insolvency of the combined companies post-closing. After obtaining such an opinion, without any input from, or the knowledge, of Huntsman’s management, Hexion forwarded it to Credit Suisse and attached the opinion to the complaint that the company filed in Delaware.
https://dealbook.nytimes.com/2008/10/23/hexions-debt-commitment-mystery-letter/
Oct 23, 2008 · It was a pre-game fight in the brewing litigation between Huntsman-Hexion and their financing banks, Credit Suisse and Deutsche Bank. Hexion sought this order to attempt to extend the termination date on its debt commitment letter. To understand this issue, we need to trace through the merger agreement.
https://www.sec.gov/Archives/edgar/data/1307954/000110465908058298/a08-23179_2ex99d4.htm
Reference is made to the Merger Agreement and to the bank commitment letter (as amended, the “Commitment Letter”) provided to Hexion on July 11, 2007 from Credit Suisse and Deutsche Bank AG New York Branch and certain of their affiliates in connection with …
https://mandalitigationcommentary.blogspot.com/2008/08/hexion-v-huntsman-huntsmans-aggressive.html
Hexion’s securing its debt financing from Credit Suisse and Deutsche Bank is not a condition to closing of the deal. However, that Hexion would finance the transaction was of course known to Hunstman, and the terms of the commitment letter were made known to and the subject of negotiations with Huntsman.
http://media.straffordpub.com/products/lender-protections-in-purchase-agreements-negotiating-xerox-provisions-2017-02-16/presentation.pdf
Commitment Letter dated as of July 11, 2007 (the “Commitment Letter”) provided by Credit Suisse and certain other lenders (“Lenders”) to Hexion and Sponsor to provide over $15 billion of committed financing to finance the Hexion/Huntsman acquisition and refinance certain debt of the combined companies.
https://www.nytimes.com/2008/06/24/business/worldbusiness/24iht-chemical.1.13939607.html
Jun 24, 2008 · As a result, the banks that had agreed to finance the deal, Deutsche Bank and Credit Suisse, were unlikely to lend the $15.35 billion needed, Apollo and …
https://www.chron.com/business/energy/article/Hexion-backs-off-deal-to-buy-Huntsman-1758275.php
Jun 19, 2008 · Hexion backs off deal to buy Huntsman Hexion backs off Huntsman deal ... Ohio-based Hexion said in a complaint filed Tuesday in Delaware ... still …
https://www.kasowitz.com/capabilities/industries/private-equity/
Kasowitz prosecuted an expedited proceeding against Credit Suisse and Deutsche Bank to compel specific performance of the banks’ commitments to fund the acquisition, and successfully negotiated a settlement with Huntsman. The Wall Street Journal lauded …
https://graphics8.nytimes.com/images/blogs/dealbook/hexioncomplaint102908.pdf
2. H exion, M erger S ub, a n d Huntsman are parties to a July 12,2007 A greem ent and P lan of M erger (the ÒM erger A greem entÓ), w hereby H exion agreed t o acquire H untsm an for $28.00 in cash per share of H untsm an com m on stock (the ÒM ergerÓ), for a total price of
http://securities.stanford.edu/filings-documents/1040/HUN_01/20091210_f02m_086394.pdf
Huntsman Corp. v. Credit Suisse Securities (USA) (LLQ and Deutsche Bank Securities Inc., Cause No. 08-09-09258 (the "Texas Litigation") 6 ... Lead Plaintiff Sandra Lifschitz filed a complaint on behalf of all persons or entities who ... Hexion contracted to purchase all of the common stock of Huntsman for $28 per share, in cash. ...
https://www.courtlistener.com/opinion/2370774/hexion-spec-chemicals-inc-v-huntsman-corp/
Sep 19, 2008 · HEXION SPEC. CHEMICALS, INC. v. Huntsman Corp., ... In that complaint, Hexion publicly raised its claim that the combined entity would be insolvent, thus placing the commitment letter financing in serious peril. ... Hexion also offers in support of this contention the statement by Malcolm Price of Credit Suisse that "Credit Suisse believed that ...
https://mandalitigationcommentary.blogspot.com/2008/10/
Oct 29, 2008 · A. The Banks Refuse to Fund Hexion announced yesterday, October 28, that it had received notice late the prior day from counsel to affiliates of Credit Suisse and Deutsche Bank stating that the banks do not believe that the solvency opinion delivered to the banks on October 24 from American Appraisal Associates and a solvency certificate from Huntsman’s chief financial officer met …
https://www.lawinsider.com/documents/gVOY1cIuqpg
“Existing Term Loan Credit Agreement” shall mean the Senior Secured Term Loan Agreement, dated as of April 3, 2019, as amended April 17, 2019 and as further amended, restated, supplemented or otherwise modified from time to time, among the Borrower, Hexion LLC, Hexion International Holdings B.V., the lenders party thereto from time to time ...
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