Valuation within the Alternative Investment Fund Manager Directive
What is the AIFMD? The Alternative Investment Fund Managers Directive (“Directive”) became effective by European Union (“EU”) member states on July 22, 2013. The Directive introduces a new system for the marketing of alternative investment funds (“Fund”) in the EU and creates a legal framework to monitor and supervise alternative investment fund managers (“Manager”). Fund […]
FASB Proposal – Intangible & Goodwill Reporting
The Financial Accounting Standards Board (“FASB”), on July 1, 2013, issued a proposed Accounting Standards Update (“ASU”) to Accounting Standards Codification (“ASC”) Topic 805: Business Combinations, entitled Accounting for Identifiable Intangible Assets in a Business Combination. At the same time, the FASB also issued another proposed ASU to ASC Topic 350: Intangibles-Goodwill and Other, entitled […]
Houlihan Capital serves as a Financial Advisor to Highwinds; Renders Solvency Opinion
Houlihan Capital served as an independent financial advisor to the board of directors to Highwinds and rendered a solvency opinion in connection with their refinancing transaction and special dividend distribution For additional information, please contact: Paul Clark at pclark@houlihancapital.com or 312.450.8656.
Houlihan Capital Releases Article on Business Judgement Rule
Delaware Chancery Court Allows Business Judgment Rule Instead of Entire Fairness Standard in Minority Squeeze-Out Transaction A recent Delaware Chancery Court opinion by Chancellor Leo Strine, issued May 29, 2013, provides new guidance regarding when the less onerous “Business Judgment Rule” would apply as opposed to the stricter “Entire Fairness Standard” to evaluate the fairness […]
Overview: Going Private vs. Going Dark
Public companies are required to comply with United States Securities and Exchange Commission (SEC) filings and regulations. On average, public companies can spend anywhere from $1-$3 million a year more than similar private companies. Studies have shown that public companies spend more on investor relations personnel, board costs and, most significantly, costs of compliance with […]