Complex ESOP Transaction
We counseled a global manufacturer of additives for lead acid batteries through a complex ESOP transaction intended to provide liquidity to the company’s shareholders. This transaction involved a collaborative team of Dinsmore attorneys across practice groups who worked closely with ESOP trustee counsel, the lender’s counsel, and other environmental and financial advisors. The team oversaw the company’s due diligence, in particular its specialized environmental due diligence, conducted a tender offer due to the relatively sizeable number of shareholders involved, and constructed the ESOP plan and other ancillary plan documents. We ultimately finalized a plan and consummated the transaction enabling our client to achieve its goal of a sustainable balance between what is best for its business, employees, shareholders, and community.
Represented Our Client to Obtain the Retroactive Application of a Tax Exemption
We represented our client in the retroactive application of a 15-year Community Reinvestment Area tax exemption for improvements made to the property involving negotiations with the city, county auditor and school board. We obtained a six-figure refund of overpaid taxes for the years prior to the ratification of the agreement, and prospective application of a 53 percent reduction in the taxable value of the property.
Executive Employment and Compensation Agreements
We have represented numerous clients in the negotiation of executive employment and compensation agreements on initial hiring and in the private equity, venture capital, and mergers and acquisition context.