MFS/SUN LIFE TRUST v. VAN DUSEN AIRPORT SERVICES

Nos. 91 Civ. 3451 (SWK) (JCF), 92 Civ. 1470 (SWK) (JCF).

910 F.Supp. 913 (1995)

MFS/SUN LIFE TRUST-HIGH YIELD SERIES, Massachusetts Financial High Income Trust and Lifetime High Income Trust, Plaintiffs, v. VAN DUSEN AIRPORT SERVICES COMPANY, Limited Partnership, Mast Resources, Inc., Air Partners, Inc., MTH Holdings, Inc., Miller Tabak Hirsch & Co., MTH Co., LDH Partners, SLT-II, Inc., (formerly SLT Inc.), JDM Inc., VII Partners, Limited Partnership, Jeffrey D. Miller, Jeffrey S. Tabak, Susan L. Tabak, Gary D. Hirsch, Eugene A. DePalma, Richard Meli, James A. Lash and John Does 1 Through 50, Defendants. Martin D. RICH and Norman I. Rich, General Partners of Tri-R By Products, an Iowa General Partnership, Plaintiffs, v. AIR PARTNERS, INC., MTH Holdings, Inc., Miller Tabak Hirsch & Co., MTH Co., LDH Partners, SLT-II, Inc., (formerly SLT Inc.), JDM Inc., VII Partners, Limited Partnership, Jeffrey D. Miller, Jeffrey S. Tabak, Susan L. Tabak, Gary D. Hirsch, Eugene A. DePalma, Richard Meli, James A. Lash and John Does 1 through 50, Defendants.

United States District Court, S.D. New York.

October 23, 1995.


Attorney(s) appearing for the Case

Charles M. Carberry, Marc S. Kirschner, Robert W. Gaffey, Marla S.K. Gale, Jones, Day, Reavis & Pogue, New York City, for plaintiffs in No. 91 Civ. 3451.

Neal M. Goldman, Mark H. Jackson, Philip Raible, Squadron, Ellenoff, Sheinfeld & Sorkin, New York City, for plaintiffs in No. 92 Civ. 1470.

Louis C. Lustenberger, Jr., Alan B. Howard, Christoph C. Heisenberg, Donovan Leisure Newton & Irvine, New York City, for defendants.


MEMORANDUM OPINION AND ORDER

FRANCIS, United States Magistrate Judge.

The popularity of leveraged buyouts reached its zenith in the 1980's, but the legal fallout from these transactions continues to descend on the courts. In the simplest terms, a leveraged buyout is the purchase of a company using its own assets as security for financing the acquisition. The consolidated cases here arose from the buyout of the Van Dusen Airport Services Company (...

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