TDR partners Gary Prior and Tim Hudson successfully resolved a dispute on behalf of a European client in a dispute over whether a defendant company was required to repay funds obtained from TDR’s client. TDR’s client had originally loaned a seven figure amount to the defendant company in exchange for certain Promissory Notes. After the Promissory Notes matured, however, the defendant refused to repay the Notes and claimed that they had converted into equity in the defendant company. Mr. Prior and Mr. Hudson filed suit against the defendant in the United States District Court for the Northern District of Illinois. After TDR deposed defendant’s senior executives and moved for summary judgment, the defendant agreed to pay TDR’s client more than the face value of the original Promissory Notes.
