Practical perspectives for contemporary legal challenges.
Private equity investment in alcohol-related businesses often raises a question that receives far less attention than financing, valuation, or deal structure: who, exactly, will the regulators consider to be an owner? The answer can have significant implications for diligence, transaction structuring, and ultimately the ability of the business to obtain or maintain its alcohol licenses. …
Continue reading “The Hidden Licensing Hurdle in Private Equity Alcohol Transactions”
Well-drafted commercial agreements identify the “Parties” clearly, define “Affiliates” separately, and specify any rights or obligations of party-affiliates in performance or enforcement provisions that apply only to them. Too often, however, commercial agreements use collective language—such as “ABC Company and its affiliates” or “ABC Company, collectively with its subsidiaries and other affiliates”—within the definition of …
Continue reading “Collateral Exposure of Non-Signatory Affiliates in Commercial Contracts”
On January 16, 2026, the Federal Trade Commission (“FTC”) published to the Federal Register the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”) merger-reporting thresholds for 2026. Each year, the FTC is required to adjust the thresholds under the HSR Act to correspond with changes in gross national product. The thresholds for 2026 will increase …
Continue reading “2026 FTC Updates to HSR and Clayton Act Threshold”