BRANDT v. WAND PARTNERS

No. 00-1065.

242 F.3d 6 (2001)

William A. BRANDT, Jr., Plaintiff, Appellant, v. WAND PARTNERS, et al., Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided March 2, 2001.


Attorney(s) appearing for the Case

J. Joseph Bainton with whom John G. McCarthy, Ethan D. Siegel, Andrew H. Beatty, Bainton McCarthy & Siegel, LLC, Timothy P. Wickstrom, Tashjian, Simsarian & Wickstrom, Daniel C. Cohn, David Madoff and Cohn & Kelakos LLP were on brief for plaintiff.

John O. Mirick with whom Mirick, O'Connell, De Mallie & Lougee, LLP, David L. Evans, Hanify & King, P.C., Mike McKool, Jr., Sam F. Baxter, Jeffrey A. Carter, Rosemary T. Snider, Randy J. Carter and McKool Smith, P.C. were on brief for appellees Hicks, Muse and Company (TX) Incorporated, Hicks, Muse Equity Fund, L.P., HMC Partners, L.P., HMC Partners, Healthco Holding Corporation, Thomas Hicks, John Muse and Jack Furst.

John J. Curtin, Jr. with whom Mark W. Batten, Bingham, Dana LLP, Matthew Gluck, Gregg L. Weiner, and Fried, Frank, Harris, Shriver & Jacobson, P.C. were on brief for appellees Thomas L. Kempner and Vincent A. Mai.

Thomas G. Rafferty with whom David R. Marriott, Aviva O. Wertheimer, Cravath, Swaine & Moore, Arnold P. Messing, E. Kenly Ames and Choate, Hall & Stewart were on brief for appellee Lazard Frères & Company LLC.

Alan Kolod with whom Mark N. Parry, Moses & Singer LLP, Vincent M. Amoroso and Posternak, Blankstein & Lund were on brief for appellees Kenneth W. Aitchison, Robert E. Mulcahy III, Arthur M. Goldberg and Gemini Partners, L.P.

E. Randolph Tucker with whom John A.D. Gilmore, John A.E. Pottow and Hill & Barlow, P.C. were on brief for The Airlie Group, L.P., Dort Cameron, III, EDB, L.P., TMT-FW, Inc., Thomas M. Taylor, Lee M. Bass and Perry R. Bass.

Thomas C. Frongillo, Brian E. Pastuszenski, Amanda J. Metts and Testa, Hurwitz & Thibeault, LLP on brief for appellees Wand Partners and Mercury Asset Management.

Leonard H. Freiman, James F. Wallack and Goulston & Storrs, P.C. on brief for appellees Helen Cyker and J. Robert Casey, Trustee.

Nancy L. Lazar, Dennis E. Glazer, Edward P. Boyle and Davis Polk and Wardwell on brief for appellee J.P. Morgan & Company, Inc.

Paula M. Bagger, Marjorie Sommer Cooke, Christopher T. Vrountas and Cooke, Clancy & Gruenthal on brief for appellee Marvin Meyer Cyker.

Edwin G. Schallert, Eileen E. Sullivan and Debevoise & Plimpton on brief for appellees Chancellor Capital Management, Inc. and Chancellor Trust Company.

Kathleen S. Donius, Stephen T. Jacobs and Reinhart, Boerner, Van Deuren, Norris & Rieselbach, s.c. on brief for appellee Valuation Research Corporation.

Before BOUDIN, Circuit Judge, CYR, Senior Circuit Judge, and ZOBEL, District Judge.


BOUDIN, Circuit Judge.

This case arises out of the failure and chapter 7 bankruptcy of Healthco International, Inc. ("Healthco"), a major global distributor of dental products and services. Following this debacle, the chapter 7 trustee brought the present case on behalf of the estate against numerous parties alleged to have been responsible for, or beneficiaries of, the leveraged buyout that precipitated the collapse of Healthco. We begin with a short history of the...

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