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Court Blocks Investor’s Use of ‘Golden Shares’ to Prevent Bankruptcy Filing

Court Blocks Investor’s Use of ‘Golden Shares’ to Prevent Bankruptcy Filing

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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