HIG Awarded $4M In PE Cos.' Suit Over $41M Foreclosure

Law360, New York (February 28, 2013, 4:54 PM EST) -- The Delaware Court of Chancery on Thursday ruled that investment firm HIG Capital LLC fulfilled its duty as a secured creditor in the $41 million sale in 2008 of an asset owned by Edgewater Growth Capital Partners LP and ordered Edgewater to pay a $4 million limited guaranty to HIG.

Chancellor Leo E. Strine Jr. rejected Edgewater's claim that the HIG-run foreclosure sale of ATM Acquisition Corp., an entity made up of businesses that service ATMs, was commercially unreasonable because it was designed to repel potential...
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