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Boston College Law School

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Friday, November 30, 2007

The Cerberus Response

Counsel for RAM Holdings (the acquisition vehicle for URI that is wholly-owned by Cerberus) today sent a letter to Chancellor Chandler.  You can download it here.  They are claiming that the contract is too ambiguous for disposition on a summary judgment motion and that there does indeed exist parol evidence supporting their case.  The first assertion is not surprising and is what I predicted -- Cerberus is trying to delay as much as possible here.  The second assertion is Richard Layton's characterization of the evidence -- we need to see more.  Again, I'll have more on this Monday or Tuesday. 

http://lawprofessors.typepad.com/mergers/2007/11/the-cerberus-re.html

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