Venture Lender Acquires Assets and Restarts Software Business

            Our client, a venture lender, has built a portfolio of successful investments.  The exception was a loan to a shipping company that had developed a unique software product to manage and track individual shipments from door to door, anywhere in the world, on any carrier.  The shipping company failed when the global economy crashed.

             After evaluating its options, our client elected to foreclose its security interest under the UCC by conducting a public sale of the company's assets.  We helped design the publicity campaign, write the advertisements, identify websites and publications on which to publish the ads, and negotiate the rates and terms.  With our assistance, our client formed a subsidiary and transferred the loan to it before the sale.  We planned each step of the public sale, which went smoothly, precisely as planned.  The subsidiary, which acquired the assets as the winning bidder is now restarting the business on a "software as a service" model, licensing the software to shippers.

            David Duperrault led the SVLG team that helped transform this potential loss into a big win for our client.