Proyectos y Construcciones Procisa v. Continental Tire of North America
The Supreme Court of the State of New York found that Proyectos y Construcciones Procisa, a Mexican corporation, failed to establish alleged breaches of its contractual and legal rights by Continental Tire of North America (CTNA). The case originated when the plaintiff sought to enjoin CTNA from proceeding with a $600 million stock issuance transaction. When injunctive relief was denied, the plaintiff filed an amended complaint seeking over $100 million in damages for breach of contract and fiduciary duties. The court's decision cited testimony provided by Analysis Group academic affiliate George Foster, who testified concerning debt-to-equity swaps, inter-company loans, CTNA's value, and other case issues. Analysis Group and Professor Foster worked with CTNA's outside counsel, Shearman and Sterling LLP. Principals Elizabeth Eccher and Samuel Weglein led the Analysis Group case team that supported Professor Foster.