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Diegnan negotiates asset purchase from distressed sellers

Diegnan & Brophy successfully represented a California company in the purchase of assets from two New Jersey companies undergoing an Assignment for the Benefit of Creditors action. Mr. Diegnan worked closely with the client to negotiate and purchase only the assets that would be beneficial to the company’s newly formed New York and New Jersey operations. Diegnan & Brophy negotiated a management agreement that allowed our client to operate the troubled company through the ABC process to protect the goodwill and assets and ensure a successful launch of the new operations. The sale was approved by the Middlesex County Chancery court on May 6, 2011.

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