SSG Capital Advisors acted as the investment banker to Panhandle Oilfield Services, a portfolio company of Argosy Private Equity, in the placement of a $12 million asset-based credit facility.
TriCo Bancshares completed its previously-announced merger with Valley Republic Bancorp. The combined company, operating as TriCo Bancshares with its banking subsidiary, Tri Counties Bank, expects to have total assets of approximately $10.1 billion as a result of the merger.
TriCo Bancshares, the parent company for Tri Counties Bank, and Valley Republic Bancorp, the parent company for Valley Republic Bank, entered into a definitive agreement under which Valley Republic will merge with and into TriCo in a stock transaction valued at approximately $165.6 million.
Rescue capital has a long and occasionally sordid history in the United States, growing out of Gilded Age overreach and finding fertile ground in restructuring best practices. Hugh Larratt-Smith takes a stroll through history as he looks back on rescue capital origins before examining what its role could be in the very near future.
Duane Morris promoted six associates and special counsel to the firm’s partnership in the Business Reorganization and Financial Restructuring Practice Group, the Corporate Practice Group and the Trial Practice Group.
Duane Morris named partners James J. Holman and Meagen E. Leary as co-chairs of the Business Reorganization and Financial Restructuring Practice Group.
Filing for Chapter 11 protection can be an expensive procedure for borrowers and lenders. Keri Wintle discusses another option, state receivership, which can offer a more frugal avenue to achieve the same goal while offering all parties more privacy and greater flexibility.
Duane Morris was named Law Firm of the Year at the ACG NY Champion’s Awards. Also, the New York Enterprise Report named partner Michael D. Schwamm among the top seven business legal advisors in the NY tri-state area.