JC Flowers Fights Metalmark In Court Over $104M Sale

Law360, New York (February 6, 2012, 4:56 PM EST) -- Attorneys for private equity firms J.C. Flowers & Co. LLC and Metalmark Capital Holdings LLC sparred Monday over whether their failed $104 million sale of an insurance company should be subject to a $4.5 million adjustment.

The dispute in New York court centers on a failed deal by J.C. Flowers and others to buy $104 million worth of stock in Direct Response Corp. from funds formerly affiliated with Morgan Stanley's private equity arm that are now a part of Metalmark. After the deal fell apart, the...
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