Laidlaw International, Inc.

Client:	Laidlaw International, Inc.
Representation:	Mergers and Acquisitions
Date:	December 2005
Locations:	U.S. Bankruptcy Court

Summary:

Our client Laidlaw Inc. was considering the acquisition of another transportation company — We Care Transportation — with which it had a significant joint venture in Erie County (Buffalo), New York.

However, We Care suddenly filed a Chapter 11 (debtor-in-possession) bankruptcy petition. After Laidlaw learned that We Care Management, which had administered the joint venture, had diverted significant joint venture revenues that should have been paid to Laidlaw, and that We Care was considering other potential purchasers for its business — who were significant competitors of Laidlaw — Schiff Hardin lawyers worked with Laidlaw counsel to develop a strategy to allow Laidlaw to protect its joint venture and maximize its chances of acquiring We Care — despite the sudden and unexpected events.

Ultimately, Schiff Hardin was able to combine its bankruptcy and corporate law expertise to expedite the auction sale of We Care Transportation to Laidlaw at a very attractive price to our client. This purchase solidified Laidlaw’s position as the industry leader in Buffalo/Erie County — New York’s second largest metropolitan area — and the transportation contracts acquired by Laidlaw in the transaction are expected to generate a strong multiple return on Laidlaw’s investment.