Hints and tips:
...The 2011 private equity buyout of US ambulance company Rural/Metro was an unremarkable takeover that earned Royal Bank of Canada $5m in advisory fees....
...The second, a firm of ambulance-chasing solicitors called Quindell, took a little longer to unravel, after it successfully sued for libel in the UK courts....
...Rural/Metro, an ambulance operator, was sold for $728m. RBC said in a statement: “We are disappointed with the court’s determination but respect its decision.”...
...(FT Alphaville) Andrew Grech, MD, Slater & Gordon: Thanks to the Oz ambulance chasers, the Quindell of 2015 was literally just Quindell again....
...It combined an ambulance chasing law firm with solar panel installation, physiotherapy, car repair and bold but largely unfulfilled plans to put electronic tracking devices in cars....
...The court case in question relates to the 2011 acquisition of Rural-Metro, a publicly-traded ambulance provider, by private equity firm Warburg Pincus for $438m, excluding net debt....
...We started paying attention and realised Quindell had become one of the largest ambulance chasing law firms in the UK....
...A Delaware judge has ruled against Royal Bank of Canada over advice the lender gave in the 2011 buyout of an ambulance operator, in a decision that is likely to have far reaching consequences for Wall Street...
...“Without a doubt, this is the worst crisis the industry has faced,” say breathless press releases from ambulance-chasing law firms....
...He would go on to work as a grocery-bagger, lumberjack, longshoreman, lorry driver, lifeguard, ambulance driver and policeman to finance his law degree at the University of California, Berkeley....
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