Matters

ICG Global Loan Fund 1 DAC, et al. v. Boardriders, Inc., et al. (NY Sup. Ct.)

Co-counsel to group of minority lenders challenging non-pro rata priming transaction entered into between borrower, majority lenders, and equity sponsor. The legal issues being litigated here (i.e., whether a private roll-up debt exchange qualifies as an “open market” purchase and good faith and fair dealing requirements) are hot items garnering significant attention in the market. This matter is ongoing.

Successfully Obtained TRO in Theft of Trade Secrets Matter

In a theft of trade secrets action, Herrick successfully obtained a temporary restraining order in the New York County Commercial Division, which (i) barred our client’s competitor from any further use or access to misappropriated trade secrets, (ii) enforced our client’s restrictive covenants in a former employee’s employment agreement, and (iii) prohibited the competitor from contacting or soliciting dozens of customers identified in our client’s stolen information.