Represented Leading Producer of Golf Equipment and Apparel in Sale of Business Transaction

Represented Sun Mountain Sports, Inc. ("Sun Mountain"),  a leading producer of golf equipment and apparel, in a sale of business transaction to a private investment firm, Solace Capital Partners.  

Founded in 1981, Sun Mountain is a pioneer in the golf industry known for its best-in-class brand and many innovations in golf bags, push carts, and outerwear. Sun Mountain’s products are sold in national retail stores, specialty golf stores, and pro shops, as well as online and internationally. The sale did not include Sun Mountain Motor Sports, which produces motorized golf cars under the Finn Scooters brand.  

Three Ocean Partners served as financial advisor to Sun Mountain. 


Not-For-Profit – Pari-Mutuel Wager Matters

Represented a major sports franchise operator in connection with pari-mutuel wagering issues.

Commercial Liability Insurer – Summary Judgment Granted

Achieved summary judgment in favor of insurer ruling, in a matter of first impression under Michigan law, that the “absolute pollution exclusion” in a commercial general liability insurance policy applied to exclude a claim of bodily injury caused by carbon monoxide in a home. The court also ruled that the “hostile fire” exception to the exclusion was inapplicable.

Legends Hospitality – Control Interest Transfer

Represented long-standing client Legends Hospitality in its entry into a share purchase agreement with the private equity firm Sixth Street. Under the share purchase agreement, Sixth Street acquired a controlling interest in Legends Hospitality. This investment will support Legends continued growth as a premium experiences company that specializes in delivering holistic solutions for sports, entertainment and attractions clients. 

In connection with the acquisition, Legends Hospitality (i) issued senior secured long-term notes and (ii) entered into a revolving credit facility and PIK facility. The net proceeds were used to redeem certain outstanding equity securities of Legends Hospitality and for working capital and general corporate purposes.

In order to preserve Legends Hospitality’s liquidity and support its continued investment in accretive, long-term capital projects, affiliates of Sixth Street and other third parties will provide Legends Hospitality with access to funding provided by an investment vehicle. The funding will be used for capital expenditures, pre-opening costs and other disbursements contemplated by contracts entered into by Legends Hospitality.

Legends – Majority Investment Transaction

Represented Legends Hospitality Holding Company, LLC (“Legends Hospitality”) in majority investment by private equity firm Sixth Street in the global premium experiences company, co-founded by the New York Yankees and the Dallas Cowboys. As reported by Legends, “[t]he new investment from Sixth Street will support the long-term growth of the Company’s global client relationships and further enhancements to its innovative 360-degree platform of premium experience offerings for the most iconic global brands in sports, entertainment, and attractions.”

Herrick has represented Legends since its inception in 2008, when our Sports Law Group worked with the Cowboys and the Yankees, along with two private equity firms, to form this ground-breaking joint venture. Initially, Legends focused on delivering enhanced concessions and premium experiences. Since its formation, Legends’ range of services has grown to include six worldwide divisions and it has partnered with many iconic international sports, entertainment and attractions brands. 


Michel Design Works Acquired by Portfolio Company of Audax Private Equity

Represented the shareholders of Michel Design Works Ltd, a leading omni-channel lifestyle brand, in connection with its stock sale to Stonewall Kitchen, a premier specialty food and home goods platform in North America.  Stonewall Kitchen is a portfolio company of Audax Private Equity, which has invested over $7 billion in more than 140 platforms and over 1,000 add-on companies.  


Represent the Pac-12 Conference in Insurance Dispute

Represent the Pac-12 Conference in an insurance dispute in connection with a charge brought by the National College Players Association claiming that the Pac-12 Conference and the USC are violating the National Labor Relations Act by refusing to classify student athletes as employees. 

Represented Shareholders in Asset Sale of Independent Medical Examination Provider

Represented shareholders in multi-million-dollar sale of assets of an independent medical examination provider (IME). The IME serves insurance carriers, employers, and third-party administrators, to leading provider of IMEs, peer reviews, Medicare compliance, record retrieval, document management and related services, with clients in the U.S., Canada, the United Kingdom and Australia.  The agreement provided for post-closing employment and restrictive covenants of selling shareholders and key personnel and bonus payments relating to key employee retention.

National Financial Partners, Corp. (NFP) – Pre-Litigation Disputes and Litigation

Regularly represents NFP, a national insurance brokerage and consulting firm, in connection with a wide range of pre-litigation disputes (including coverage matters) and litigation.

Global Insurance Company – Successful Defense in Contribution Dispute with Insurer

Successfully defended a global insurance company in an appeal of a summary judgment decision before the Appellate Division, First Department, in which another insurer sought contribution in connection with its $5 million policy limit paid under a contaminated products insurance policy, arising out of the recall of Sabra hummus products. The decision was unanimously affirmed in its entirety by the First Department.

Leading National Insurance Broker – Policy Development

Represented leading national insurance broker in drafting manuscript insurance policies for its professional, investment adviser and miscellaneous liability insurance lines of coverage.

Commercial Property Insurer – Summary Judgment Granted in Commercial Property Insurance Coverage Litigation

The Eastern District of Tennessee granted summary judgment to our client, a property insurer. The Court held that the commercial property insurance policy at issue was void for lack of an insurable interest following the sale of the covered apartment building by the insured without notifying our client, the policy was not assignable without our client's written consent, and the purchaser was not an assignee or an intended third-party beneficiary of the policy. The purchaser appealed; however, the Sixth Circuit Court of Appeals affirmed the District Court’s decision granting summary judgment to our client.

Commercial Liability Insurer – Third Department Affirms Summary Judgment in Favor of Herrick Client in Environmental Coverage Litigation

The New York Appellate Division Third Department affirmed the Supreme Court's dismissal of all claims against a liability insurer in an environmental coverage litigation brought by the State of New York, arising from a petroleum discharge from an upstate New York gas station. Agreeing that coverage was excluded under our client’s liability policies, the court granted our motion for summary judgment while denying summary judgment motions brought by two of the other liability insurers of the company that supplied petroleum to the station, which the State had claimed was the responsible discharger under the NY Navigation Law.

Insurance Coverage Dispute – Theft by Armored Car Executives

Represented a major national bank and its subsidiary in an insurance coverage dispute involving cash transported in armored cars. A unanimous New York State Appellate Division, First Department panel ruled in favor of our clients, finding that the "in transit" clause of the insurance policy also covered theft by the armored car company's executives while the money was in their vault as part of the contracted-for delivery process.

Reinsurance Company – Successful Prosecution of Malpractice Claims Related to Insurance Agreements

Successfully represented a prominent insurance managing agent and reinsurance company in their claims of legal malpractice against former counsel arising from insurance agreements prepared by the defendant, a New York-based insurance law firm.

Insurance Producer – Commission Dispute

Represented an insurance producer embroiled in an arbitration with a former client over unpaid commissions. The arbitration resulted in a recovery of over $1 million.

Insurance Coverage Dispute – Commercial Property Insurance

Successfully represented an insurer in a dispute with a building owner over whether coverage existed under its commercial property insurance policy for over $1 million in claimed property damage caused by an underground water supply line rupture.

Bermudian Reinsurer – Creative International Indemnity Plan

Represented a major Bermudian reinsurer in forming a limited medical benefit indemnity plan for members of an association which included reimbursement for in-patient hospital procedures, surgical benefits, doctor visits, emergency treatment, and accidental death and dismemberment benefits. We helped the reinsurer choose the most appropriate structure to reinsure the plan, drafted the necessary policy and treaty documentation, and analyzed pertinent regulatory issues.

Offshore Insurer – ERISA Stop-Loss Insurance

Advice to an insurer on providing stop loss insurance to large employers which provide group health insurance coverage to their retirees under self-funded welfare benefit arrangement plans (Section 419E plans under ERISA).

European Insurer – Customized Political Risk Coverage

Represented a major European insurer in designing and drafting an insurance policy covering political risks of an insured's non-European operations (for example, forced abandonment of a foreign country due to a governmental evacuation order). We drafted the policy to address the unique risks facing the insured, such as the potential loss of business income due to the cessation of the insured's operations of a railway in Africa. We also designed it to combine other risks such as pollution liability and coverage for the insured's construction projects.

European Insurer – Filling the Gaps

Represented a European insurer in drafting an insurance policy for a large French food product company with worldwide operations. The policy covered certain risks not covered by the insured's other insurance policies, such as business interruption losses arising from an act of terrorism resulting in the contamination of the insured's food products.

European Insurer – Chunnel Policy

Represented a European insurer in structuring an aggregate declared risk capacity contract under which the insurer provided insurance capacity to one of the world's leading engineering and construction companies for certain lines of insurance, including a cost overrun insurance program for the Channel Tunnel Rail Link.

Housing Authority Risk Retention Group – Pollution Exclusion Coverage Litigation

Represented a risk retention group in litigation against a housing authority over whether an insurance policy excluded a judgment against the housing authority for exposure to pollution. In a case of first impression under Illinois law, the 7th Circuit Court of Appeals ruled in favor of our client, holding that the absolute pollution exclusion excluded coverage for an underlying $10 million judgment against the insured based upon exposure to pollutants, even though the insured did not actively cause the pollution, and even though the pollution originated off-site and migrated to the insured's property. (Housing Authority Risk Retention Group, Inc. v. Chicago Housing Authority, 378 F.3d 596 (7th Cir. 2004))