Success Stories
Our Focus Is You
The attorneys of Golan & Christie offer sophisticated legal services to you and your organization in a supportive and collaborative environment. We are as much business partners as legal counsel—problem solvers as well as legal experts.
From the moment we first meet, we are driven by one thing: your ultimate success. And we go the extra mile to achieve it. We devote as much time as necessary to get to know you. Only then can we make a thorough assessment of your situation and develop solutions that are the most appropriate for you. As our team goes to work for you, we continue to invest time in listening to, observing and advising you.
Ultimately, we measure our success by your success.
Partner Focus: Stephen Golan
Founding Partner Stephen Golan is featured in a recent article that appeared in Leading Lawyers Network Magazine. The article highlights Golan’s unmatched legal expertise and wealth of business knowledge that provide incredible value to his long-standing client relationships. Read more
Case Study #1, Business to Business Manufacturer
PROBLEM:
The owner of this 30-year-old manufacturing business passed away, leaving his kids the company. Although they had worked in the business, neither of them knew how to run the company, which was highly leveraged and on the verge of bankruptcy.
Without a succession management plan in place, but committed to salvaging the business, the company turned to Golan & Christie.
GOAL:
Golan & Christie put together a team to work with the client on a day-to-day basis. The first order of business was to meet with all the professionals working with the manufacturer (accountants, bankers, etc.) to review each relationship.
The team first worked on restructuring a variety of high-interest-rate loans, refinancing into a single loan secured by the company building. The next step was to obtain a line of credit with reasonable terms.
Golan & Christie’s attorneys also counseled the company on how to re-price their products, institute employee policies and procedures, and eliminate redundant corporate jobs. No lawsuits sprung from the layoffs, but Golan & Christie helped settle an unrelated wrongful discrimination suit that had been filed by an employee dismissed a few years back.
RESULTS:
The financial restructuring brought immediate relief: cash flow expenses went down substantially. The loan refinancing reduced the amount of interest due on the loan substantially as well.
Today, the business is doing well. Revenues are substantially up, expenses are down.
The owner of this 30-year-old manufacturing business passed away, leaving his kids the company. Although they had worked in the business, neither of them knew how to run the company, which was highly leveraged and on the verge of bankruptcy.
Without a succession management plan in place, but committed to salvaging the business, the company turned to Golan & Christie.
GOAL:
Golan & Christie put together a team to work with the client on a day-to-day basis. The first order of business was to meet with all the professionals working with the manufacturer (accountants, bankers, etc.) to review each relationship.
The team first worked on restructuring a variety of high-interest-rate loans, refinancing into a single loan secured by the company building. The next step was to obtain a line of credit with reasonable terms.
Golan & Christie’s attorneys also counseled the company on how to re-price their products, institute employee policies and procedures, and eliminate redundant corporate jobs. No lawsuits sprung from the layoffs, but Golan & Christie helped settle an unrelated wrongful discrimination suit that had been filed by an employee dismissed a few years back.
RESULTS:
The financial restructuring brought immediate relief: cash flow expenses went down substantially. The loan refinancing reduced the amount of interest due on the loan substantially as well.
Today, the business is doing well. Revenues are substantially up, expenses are down.
Case Study #2, Wholesale Distributor
PROBLEM:
This client had engaged a broker to help sell his company as well as some real estate assets. The broker had secured what appeared to be a very high purchase price for the business from someone Golan & Christie immediately identified as a questionable buyer.
The buyer, who was also an attorney representing himself, had drafted a shady letter of intent. He also wanted to pay for the acquisition by selling off the company’s accounts receivables prior to closing, another highly dubious practice. The buyer also wanted to close the deal as soon as possible. The dual challenge facing Golan & Christie was to protect the client’s business while still helping him continue to position his company for a sale.
GOAL:
The first order of business for Golan & Christie’s attorneys was to negotiate with the buyer over the deal’s structure to ensure that the transaction was appropriately secured. They took a hard stance on the matter and refused the buyer’s offer to sell off accounts receivable. They also insisted that the client hold off on closing the deal until Golan & Christie could do more due diligence.
The Golan & Christie due diligence process revealed that the buyer had misled the client by saying he had the backing of a separate company that he owned, when in fact he did not. They also discovered that the buyer had acquired numerous companies in the past and depleted all of the companies’ assets without honoring any of his commitments to the companies. Golan & Christie’s attorneys promptly told the client to terminate the deal.
RESULTS:
Golan & Christie’s systematic, thorough work prevented the client from rushing into what turned out to be a fraudulent deal, saving the client his entire business. Golan & Christie’s attorneys also worked with the client to help him increase the real value of his business.
This client had engaged a broker to help sell his company as well as some real estate assets. The broker had secured what appeared to be a very high purchase price for the business from someone Golan & Christie immediately identified as a questionable buyer.
The buyer, who was also an attorney representing himself, had drafted a shady letter of intent. He also wanted to pay for the acquisition by selling off the company’s accounts receivables prior to closing, another highly dubious practice. The buyer also wanted to close the deal as soon as possible. The dual challenge facing Golan & Christie was to protect the client’s business while still helping him continue to position his company for a sale.
GOAL:
The first order of business for Golan & Christie’s attorneys was to negotiate with the buyer over the deal’s structure to ensure that the transaction was appropriately secured. They took a hard stance on the matter and refused the buyer’s offer to sell off accounts receivable. They also insisted that the client hold off on closing the deal until Golan & Christie could do more due diligence.
The Golan & Christie due diligence process revealed that the buyer had misled the client by saying he had the backing of a separate company that he owned, when in fact he did not. They also discovered that the buyer had acquired numerous companies in the past and depleted all of the companies’ assets without honoring any of his commitments to the companies. Golan & Christie’s attorneys promptly told the client to terminate the deal.
RESULTS:
Golan & Christie’s systematic, thorough work prevented the client from rushing into what turned out to be a fraudulent deal, saving the client his entire business. Golan & Christie’s attorneys also worked with the client to help him increase the real value of his business.
Case Study #3, Communications Firm
PROBLEM:
After having been hired by a Web-based start-up venture to do a significant amount of creative work, this client produced and delivered products that were enthusiastically received by the owner of the new firm. Initial payments for services were made on a timely basis. The relationship rapidly soured, however, when the new firm encountered a funding shortfall and stopped paying the bills. The start-up venture complained about expenses and demanded that our client refund the money it had been paid. Golan & Christie’s client refused; the new venture threatened a lawsuit.
GOAL:
Golan & Christie’s attorneys reviewed all pertinent documentation and correspondence between the parties as soon as they were alerted. They quickly determined that the start-up venture had no cause for action. Rather than bill the client for unnecessary fees to defend a baseless lawsuit, Golan & Christie developed a negotiation strategy that the client could employ. Golan & Christie’s attorneys also recommended that the client deal directly with the Web-based business. Armed with the defense outlined by Golan & Christie, the client was able to negotiate a mutual release and avoid additional expenses.
RESULTS:
After realizing that the communications firm had a very strong case, Golan & Christie’s business acumen, sense of fairness, diligent and pragmatic response, guided the client behind the scenes in order to avoid unnecessary legal expenses associated with litigation.
After having been hired by a Web-based start-up venture to do a significant amount of creative work, this client produced and delivered products that were enthusiastically received by the owner of the new firm. Initial payments for services were made on a timely basis. The relationship rapidly soured, however, when the new firm encountered a funding shortfall and stopped paying the bills. The start-up venture complained about expenses and demanded that our client refund the money it had been paid. Golan & Christie’s client refused; the new venture threatened a lawsuit.
GOAL:
Golan & Christie’s attorneys reviewed all pertinent documentation and correspondence between the parties as soon as they were alerted. They quickly determined that the start-up venture had no cause for action. Rather than bill the client for unnecessary fees to defend a baseless lawsuit, Golan & Christie developed a negotiation strategy that the client could employ. Golan & Christie’s attorneys also recommended that the client deal directly with the Web-based business. Armed with the defense outlined by Golan & Christie, the client was able to negotiate a mutual release and avoid additional expenses.
RESULTS:
After realizing that the communications firm had a very strong case, Golan & Christie’s business acumen, sense of fairness, diligent and pragmatic response, guided the client behind the scenes in order to avoid unnecessary legal expenses associated with litigation.
Case Study #4, Individual Corporate Executive
PROBLEM:
This client rose through the ranks of a national, multi-billion dollar corporation to be second in charge of the company’s Midwest operations. During the course of this relationship, the client signed an employment agreement which contained an extremely harsh non-competition/non-solicitation provision with a severe liquidated damage clause and a one-sided attorney fee provision. Years later, the client resigned due to a disagreement with his superiors and took a job with a local company in the same industry. The national company filed suit in Pennsylvania against this Chicago native to enforce its non-compete and its liquidated damage provisions.
GOAL:
The client needed to continue working in the same industry. His new employer, also a client of Golan & Christie, was concerned about being dragged into the lawsuit and having its time and energy drained by litigation with a much larger competitor.
RESULTS:
Golan & Christie successfully had the case moved to Illinois to reduce fees and eliminate any benefit the national company may have had in its home state. Golan & Christie then attacked the enforceability of the non-provision agreement for being overbroad as a matter of law and for being unsupported by sufficient consideration or benefit to the client. Golan & Christie repeatedly attacked the complaints filed against the client, ultimately forcing the national company to restate its complaints three times. Then, after only one deposition had taken place, the national employer agreed to simply dismiss its case. Golan & Christie also managed to keep the new employer from being dragged into the lawsuit as a defendant and obtained a dismissal of a separate lawsuit filed against the new employer.
This client rose through the ranks of a national, multi-billion dollar corporation to be second in charge of the company’s Midwest operations. During the course of this relationship, the client signed an employment agreement which contained an extremely harsh non-competition/non-solicitation provision with a severe liquidated damage clause and a one-sided attorney fee provision. Years later, the client resigned due to a disagreement with his superiors and took a job with a local company in the same industry. The national company filed suit in Pennsylvania against this Chicago native to enforce its non-compete and its liquidated damage provisions.
GOAL:
The client needed to continue working in the same industry. His new employer, also a client of Golan & Christie, was concerned about being dragged into the lawsuit and having its time and energy drained by litigation with a much larger competitor.
RESULTS:
Golan & Christie successfully had the case moved to Illinois to reduce fees and eliminate any benefit the national company may have had in its home state. Golan & Christie then attacked the enforceability of the non-provision agreement for being overbroad as a matter of law and for being unsupported by sufficient consideration or benefit to the client. Golan & Christie repeatedly attacked the complaints filed against the client, ultimately forcing the national company to restate its complaints three times. Then, after only one deposition had taken place, the national employer agreed to simply dismiss its case. Golan & Christie also managed to keep the new employer from being dragged into the lawsuit as a defendant and obtained a dismissal of a separate lawsuit filed against the new employer.