In Re Acushnet River & New Bedford Harbor Proceedings Re Alleged PCB Pollution

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that tax treatment of a transaction may also support a finding of defacto merger
• adopting the traditional rules of successor liability in the context of an asset purchase on the basis of Smith Land
• finding continuity of management where three of the seller’s eight directors became directors of the seller, which had only four directors
• adopting the traditional rules of successor liability in the context of an asset purchase on the basis of Smith Land
• de facto merger found where parent corporation set up subsidiary solely to purchase assets of putative predecessor corporation
• “..'. the Court holds that the requirement of continuity of shareholders is satisfied where the ‘purchasing corporation’ exchanges shares of its parent corporation for the assets of the transferor.”

Source: CourtListener parenthetical corpus (CC0).