Diegnan Brophy LLC

  May 2011.  Diegnan & Brophy successfully represented a California company in the purchase of assets from two New Jersey companies undergoing an Assignment for the Benefit of Creditors action.   Mr. Diegnan worked closely with the client to negotiate and purchase only the assets that would be beneficial to the company’s newly formed New York and New Jersey operations.  Diegnan & Brophy negotiated a management agreement that allowed our client to operate the troubled company through the ABC process to protect the goodwill and assets and ensure a successful launch of the new operations.   The sale was approved by the Middlesex County Chancery court on May 6, 2011.

On April 15, 2011, Diegnan & Brophy were able to settle a $3.6 million bank claim against their client for less than 3.00% of the demanded amount.  In doing so, D & B saved their client from not only a devastating personal judgment, but from bankruptcy. 

Richard Diegnan, speaking for the firm said, “Our settlement of this case, is proof positive that even when the chips are stacked against you, hard work and smart, efficient legal research can often tip the scales in your favor.  Our client was able to avoid a personally devastating judgment and can now move on with his life.”

Diegnan and Brophy continue their commitment to fighting for the “little guy” when corporations come calling.  We will pursue every avenue until we feel our client is getting the best deal possible.  “Litigation should never be the first answer, but is always the last response in the business world.  We guide our clients on this principle and when litigation is instituted we fight until there is no more fight left” said partner Eric Brophy.