Significant Dispute Solved Without Litigation

Client: 

Spectrum Brands, a $2 billion global consumer maker of batteries, lawn and garden, specialty pet, and shaving and personal grooming products.

Performance: 

Spectrum acquired an environmentally impaired site in Bridgeport, Connecticut acquisition of one of its operating units. The company/through a consultant, entered into a contract for sale to an investor at a price approximately $10 million. When contract deadlines were missed and other terms apparently violated, the Company engaged legal counsel to attempt to compel the buyer to close its purchase. Litigation loomed.

The Company engaged Galaxy to bring the parlies back to the table, resolve the dispute without litigation if possible, and get the sale closed. Galaxy Partners analyzed the purchase and sale agreement and the specific circumstances leading up to the legal dispute. In part because of a prior business relationship Galaxy had with the buyer's legal counsel, Galaxy was able to reestablish trust between the parties and successfully restart negotiations.

Result: 

Galaxy renegotiated key terms of the purchase and sale agreement, including an increase in the sale price.  The transaction subsequently closed without further dispute within a total elapsed time of approximately ninety days.