Court Blocks Investor’s Use of ‘Golden Shares’ to Prevent Bankruptcy Filing
By Candice M. Carson & Christopher R. Maddux, Attorneys, Butler Snow LLP
In football, proper blocking helps a team control the line of scrimmage. Because a bankruptcy filing can shift the power away from an investor to the financially distressed company, investors often have sought to “control the line of scrimmage” and block companies in which they have invested...
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Christopher R. Maddux serves as chair of Butler Snow LLP. He is an experienced business attorney whose practice focuses on bankruptcies, business reorganizations, and distressed transactions. Maddux regularly serves as debtor’s counsel in a wide range of Chapter 11 bankruptcy cases and restructurings, and represents asset purchasers in distressed commercial transactions. He currently is president of the Mississippi Bankruptcy Conference. Maddux holds an undergraduate degree and a law degree from Vanderbilt University.
Candice M. Carson is a member of Butler Snow’s business department and practices within the finance, real estate, and restructuring group in the firm’s Dallas office. She has experience counseling clients in restructuring and contingency planning, both in and out of court, across a variety of industries, including automotive, airline, oil and gas, and retail. Carson holds a law degree from Harvard University and a bachelor’s degree from the University of Florida.