Case Study Type
Large Publicly-Traded Pipeline Company
Solvaire ServicesDiligence services
This company faced an imminent closing date involving its acquisition of a large pipeline system. The Seller represented to the client that its existing rights-of-way permitted the installation of multiple pipelines within each right-of-way and further permitted the transmission of multiple types of constituents (oil, water, gas) over such rights-of-way.
Over the course of a weekend, Solvaire mobilized an experienced team of twelve document review attorneys and provided consulting services to the client to identify the contractual provisions that should be captured from rights-of-way. Over the next week and a half, the Solvaire team reviewed thousands of rights-of-way documents and confirmed that the Seller did not have the real estate rights that it represented.
Project finding discovered by Solvaire caused the client to adjust its transaction valuation, resulting in a favorable multi-million dollar purchase price adjustment.
Chris and Chuck set high expectations, determine the scope of the entire project, and commit to an aggressive timeline. They deliver every time – on time and on budget.Sean, Senior Counsel, Energy Industry