York Capital Management Feb 2021 - Present2 years 1 month New York, New York, United States Wellspring Capital Management LLC 13 years 5 months Partner Dec 2016 - Dec 20204 years 1 month. By teaming up with strong management, Wellspring is able to unlock underlying value and Wellspring Capital Management Fund Manager Website www.wellspringcapital.com Fund Category Private Equity Close Date 0000-00-00 Fund Family Wellspring Capital Partners Native Currency USD Fund Manager's Location 605 Third Avenue 44th Floor New York, NY 10158 United States +1 (212) 000-0000 Fund Domiciles Canada The Court now issues this order, granting the motions to dismiss for the reasons set forth below. In this process, SportCo initially exchanged a term sheet with certain of its lenders in early November 2018 and allegedly reached an agreement in principle in late December 2018. 19-80071-DD (Bankr. The defendants argue that in the event the Court finds the choice of law provision does not apply, South Carolina choice of law principles should be consulted to reach a finding that New York law applies. This is the best way to manage and repair your business reputation. In 2010, Bain Capital acquired the company for US$1.8 billion. GitHub export from English Wikipedia. The firms objective is to bring partnership, experience and value creation to each investment. This article about a private equity or venture capital firm based in the United States is a stub. The Firm also has a long history of collaboration with entrepreneurs and closely held businesses to achieve outsized growth, with a large percentage of our portfolio companies being transitioned from founder ownership. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. This preference is a result of the Firms differentiated and conservative approach to leverage, in addition to a transparent oversight model, which is driven by our small group of senior professionals and absence of bureaucracy. E-mail: [email protected]; Videos. The 2011 Wellspring Capital Partners V LP was fully invested at $1.2 billion and has generated positive returns for its investors to-date. The Loan Agreements and the First and Second Amendments each contain a choice of law provision, providing that New York law applies. Flipbooks. at *3 (quoting In re Sharp Int'l Corp., 403 F.3d 43, 53 (2d Cir. James brought a civil suit against Trump in September, alleging the Trump organization had fraudulently inflated the value of . Sec'y of State for Def. Jan. 30, 2023). Later emails berate Prospect's representative for failing to agree to the AcuSport purchase more quickly. [Amended Complaint, 37, 40]. 24. ), Create custom alerts for specific article and case topics and, I took a free trial but didn't get a verification email. 3d 341, 357 (D.S.C. Hiding negative complaints is only a Band-Aid. Fed. When it comes to helping companies that show promise, Wellspring Capital Management is overflowing with support. Law360 provides the intelligence you need to remain an expert and beat the competition. Frustrated stakeholders can be further inclined, and incentivized, to view all corporate decisions with an eye towards litigation first through a 20/20 hindsight lens. Type: Company - Private. We work with successful motivated individuals to help them achieve their investment and wealth management objectives. Fund VI brings the firm's assets under management to more than $4.4 billion. hbbd``b`u@IHEX 3X "2A`V @B'Hl``bdV8 2h R. Civ. 2007) (citations omitted). Wellspring Capital is a boutique discretionary management service with a portfolio positioned for high performance. By teaming up with strong management, Wellspring seeks to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. To summarize New York law, then, it appears that opinions can be actionable, but are not always actionable. By teaming up with strong management, Wellspring is able to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. $46H$DrGHi`0I"DE$"J(aH! The February 20, 2018 stated, "You're [sic] economics are going down and the risk of chapter is going up. Lister v. NationsBank of Delaware, N.A., 329 S.C. 133, 143 (Ct. App. %PDF-1.5 % Since its founding in 1995, Wellspring has raised over $4 billion of initial capital commitments through six private equity funds. If you want your business to survive, you need to understand your-self. Angel, Fund of Funds, Venture Capital), General contact email for the organization. Wellspring Capital Management prevailed in the sponsor-driven process for Center for Diagnostic Imaging, the country's largest private . These facts, as recited in the complaint, are taken as true for purposes of the motions to dismiss. The defendants argue that Prospect is a subsequent creditor, because it had knowledge of and approved of the distributions prior to them being completed. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, S&P 500 Notches Best Week Since Late January: Markets Wrap. Marlow v. Oakland Gin Co. (In re The Julien Co.), 128 B.R. It is not intended as and should not be construed as financial, investment, tax, legal, regulatory, or other advice. Over $134 million of the loan proceeds were used to fund distributions to Wellspring Capital Partners, WCM GenPar IV, L.P., WCM GenPar IV GP, LLC, F. Hewitt Grant, Charles E. Walker, Jr., Todd Boehly, Bernard Ziomek, and Andrew Kupchik (collectively, the "Transferee Defendants"). Prior results do not guarantee a similar outcome. The firm functions as a strategic rather than tactical partner, providing management teams with top-line support, M&A experience and financial expertise, and access to resources. In Fall 2018, SportCo Holdings, Inc. (SportCo) was facing severe financial distress. at 385. If our offering sounds like something you would like to discuss, please get in touch on any of our contact details or the form below. New York law regarding third party beneficiaries provides: With respect to South Carolina's choice of law analysis, South Carolina conflict of law principles provide that "the substantive law governing a tort action is determined by the state in which the injury occurred." About Wellspring Capital Management Wellspring Capital Management, founded in 1995, is a leading middle-market private equity firm that manages more than $4.4 billion of private equity capital. Ashmore for Wilson v. Dodds, 262 F. Supp. However, whether a fraudulent conveyance action is characterized as a tort action is unsettled. Certain state securities regulatory authorities have similar exemptions based on . This matter is before the Court on motions to dismiss filed by the defendants Wellspring Capital Management, LLC ("Wellspring Capital"), Wellspring Capital Partners IV, L.P. ("Wellspring Capital Partners"), WCM Genpar IV, L.P., WCM Genpar IV GP, LLC (collectively, the "Wellspring Defendants") [Docket No. Ellett achieved high sales and revenues and had significant operations until sometime in 2016, when its profits began to decrease. WELLSPRING CAPITAL MANAGEMENT, founded in 1995, is a middle-market private equity firm that has approximately $2 billion of private equity capital under management. Wellspring Capital Management is a leading private equity firm headquartered in New York. This approach has historically delivered returns well above inflation. 544 and 550 and S.C. Code 27-23-10; and (3) negligent misrepresentations against Wellspring Capital, Mr. Carles, and Mr. Johnson. The origins of Wellspring Philanthropic Fund are shrouded. pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. WELLSPRING CAPITAL MANAGEMENT LIMITED is registered in England and Wales under Company Number 12429146, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Wellspring, 2021 WL 4823513, at *10. Total number of employee profiles an organization has on Crunchbase, Total number of Crunchbase contacts associated with this organization, Descriptive keyword for an Organization (e.g. 8h`6$67Xn@,`& SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. Discretionary portfolio management with a difference, Make your investment with Wellspring Capital Management. Wellspring Capital Management is an American private equity firm focused on leveraged buyout investments in middle-market companies across a range of industries. with actual intent . David R. Duncan US Bankruptcy Judge District of South Carolina. The District Court discussed the South Carolina Supreme Court's decision in Sheldon v. Blauvelt, 29 S.C. 453 (1888). 2016) (citing numerous cases, recognizing disagreement among courts regarding whether fraudulent conveyance action is a tort action); MainStreet Bank v. Nat'l Excavating Corp., 791 F. Supp. Corp. v. Twombly, 550 U.S. 544, 555 (2007)). It is Bavaria's largest city and the third largest city in Germany (after Berlin and Hamburg). Broker-Dealers Business & Commercial Litigation Business Restructuring California Consumer Privacy Act Capital Markets Capital Solutions & Private Credit Charitable Foundations China Life Sciences Committee on Foreign Investment in the United States (CFIUS) Consumer Protection and Advertising Law Corporate & Securities Litigation It is not intended as and should not be construed as financial, investment, tax, legal, regulatory, or other advice. Wellspring Capital Management. The Court addresses in this order only those arguments that clearly mandate dismissal. The issue in Merritt Dredging was the sale of a barge and the priority of parties' interests in the proceeds of the sale. Shoe designer and creative Salehe Bembury takes us on a journey from his childhood growing up in Manhattan, to an invaluable degree in industrial design, to working with some of the biggest names in fashionbefore breaking off to make his own name. See Sheehan v. Saoud, 650 Fed. However, the garage actually had only 402 parking spaces. See Francis v. Giacomelli, 588 F.3d 186, 192 (4th Cir. Description. 101 (32). Musk Made a Mess at Twitter. & Loan Ass'n v. Hirschfeld, 476 N.Y.S.2d 292 (N.Y. App. We see how Bembury is able to walk the line of business convention while taking his art to new heights, turning ordinary items into extraordinary footwear. Full title:Ronald J. Friedman, as the trustee for the SportCo Creditors' Liquidation, Court:UNITED STATES BANKRUPTCY COURT DISTRICT OF SOUTH CAROLINA. Martin Davis, 72; Created Modern Paramount, "Financial Firm Wellspring Capital to Take Penthouse at 605 Third Avenue", "Wellspring Capital Management taps $1.45bn Fund VI for Cadence Petroleum Group buyout", "SupplyOne Acquires Fellow Packaging Distributor Romanow Container", "Healthcare & Life Sciences Private Equity Deal Tracker: Wellspring Acquires Pentec Health", https://en.wikipedia.org/w/index.php?title=Wellspring_Capital_Management&oldid=1118006247, This page was last edited on 24 October 2022, at 18:15. Probitas Partners acted as exclusive placement agent and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel with respect to formation of Fund VI. Our tight-knit culture enables transparent oversight and a streamlined decision-making process. Accordingly, Wellspring reinforces the importance of disinterested governance and arms length dealing in connection with the restructuring process. Wellspring Capital Management, founded in 1995, is a leading middle-market private equity firm that manages more than $3 billion of private equity capital. Wellspring CEO Bill Dawson is taking a leave of absence, the firm said Tuesday Last week a shocking lawsuit was filed against his son Christopher It claims he drugged and violently raped and. Investors in its most recent fund include the Washington State Retirement System, Minnesota State Board of Investment, Connecticut Retirement Plans & Trust Funds, Kansas Public Employees' Retirement On 05/20/2022 Wellspring Capital Management, LLC Wellspring Cap filed an Other lawsuit against Barry, III.This case was filed in U.S. Bankruptcy Courts, New York Southern Bankruptcy. Wellspring Capital formed SportCo Holdings, Inc. ("SportCo") to serve as a holding company for United Sporting Company, Inc. ("United Sporting"), Ellett's direct parent; Ellett; and its subsidiaries. The plaintiff responds that Prospect is a preexisting creditor because the distributions were not made until after Prospect became a creditor when the Loan Agreements and the Amendments were signed. Founded in 1995, Wellspring invests anywhere . Wellspring, founded in 1995, has raised more than $4 billion of capital commitments through six private equity funds, according to its website. Bill Dawson is taking time off from his $2.2 billion private equity firm Wellspring Capital Management, which will investigate the claims of Dawson's threats, according to an internal memo. By teaming up with strong management, Wellspring is able to unlock underlying value and. at 382. Alexander Carles' and Bradley Johnson's arguments are limited to the negligent misrepresentation cause of action, the only cause of action asserted against them. Ellett achieved high sales and revenues and had significant operations until sometime in 2016, when its profits began to decrease. There are no allegations in the amended complaint that the debtors' liabilities exceeded their assets at the time of the transfers. Limited partners include leading pension funds, endowments, fund of funds and family offices from the U.S., Europe and Asia. Crazy 8 was started in August 2007. Industry: Investment & Asset Management. An outside law firm will assist with the probe to determine the validity of these reports, which allege behavior that is not only shocking but completely inconsistent with our corporate values and standards., Family calls complaint pure fiction intended as a shakedown, Dawson steps away from firm to spend time with his family. Sav. 2021 by wellspring capital Management. See Scheidelman v. Henderson (In re Henderson), 423 B.R. In Wellspring, the Delaware bankruptcy court held that an alleged duty of loyalty breach could survive a motion to dismiss where: Bear in mind that alleged is the operative word here. 2d 520, 529 n.14 (E.D. 609, 614 (Bankr. Wellspring Capital manages an investment portfolio of between 10 and 15 international stocks. Time to Read: 6 minutes REGISTRATION STATUS. In King County, the court considered suits by investors seeking to recover losses incurred after the collapse of a structured investment vehicle.