Charles Polzin: The Letter of Intent – Enforcement and Liability Risks

10.05.2012 (18:00)

Debevoise & Plimpton LLP / Taubenstrasse 7-9 / 60313 Frankfurt am Main // Frankfurt am Main

Zum oben genannten Thema sprechen:

Charles H. Polzin
European General Counsel der Borg Warner Inc., Ketsch

Dr. Frank Burmeister
Partner, Hengeler Mueller, Frankfurt am Main

Begrüßung:
Ina von Raven, LL.M.
DAJV Frankfurt

Ort:    Debevoise & Plimpton LLP
Taubenstrasse 7-9
60313 Frankfurt am Main

Charles Polzin graduated with a B.A. from Western Michigan University (1975), and a J. D. from the University of Michigan Law School (1979). He is currently the European General Counsel and Assistant Secretary of BorgWarner Inc., a technology leader in highly engineered components and systems for powertrain applications worldwide. Operating manufacturing and technical facilities in 59 locations in 19 countries, the company develops products to improve fuel economy, reduce emissions and enhance performance. Customers include VW/Audi, Ford, Toyota, Renault/Nissan, General Motors, Hyundai/Kia, Daimler, Chrysler, Fiat, BMW, Honda, John Deere, PSA, and MAN.

Prior to joining BorgWarner, Charlie Polzin was an Associate General Counsel for Federal-Mogul Corporation, another US based automotive supplier, a member of the Detroit, Michigan law firm, Clark Hill and a partner in the Detroit, Michigan law firm, Hill Lewis.
             
 Charles Polzin beschreibt sein Vortragsthema wie folgt:
“I will discuss the drafting of Letters of Intent by U. S. lawyers, which drafting was impacted by the court decision in Texaco, Inc. v. Pennzoil, Co. 729 S.W.2d 768 (Ct. App. Texas) 1987. This appellate decision largely upheld the decision of a Texas district court jury which awarded Pennzoil $10.53 billion dollars in its claim against Texaco, Inc. for tortious interference with a contract that Pennzoil claimed it had with Getty Oil to merge the two companies. The jury found that a contract existed where Pennzoil and Getty Oil had issued a press release stating they had “agreed in principle” to a merger, despite the fact that the same press release stated that the transaction was subject “to execution of a definitive merger agreement, approval by the stockholders of Getty Oil and completion of various government filing and waiting period requirements” (729 S.W.2d at 789). My discussion will explain the fears that American lawyers have about their clients signing preliminary documents before a final, comprehensive agreement is reached, such as a “term sheet” which creates a record of the results of negotiations over various points."


Der Vortrag findet in englischer Sprache statt. Die Teilnahme ist kostenfrei.

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