May 6, 2011
Bridge Loans and the Future of Financing Startups
The latest case out of Delaware tackling the issue of bridge loans threatens to shrink financing for startup companies. By Thomas C. Klein of Greenberg Traurig LLP
Thomas M. Klein
Bowman and Brooke LLP
2901 N. Central Avenue Suite 1600
Phoenix , AZ 85012
Phone: (602) 643-2300
Fax: (602) 248-0947
CDX Liquidating Trust v. Venrock Associates, No. 10-1953 (7th Cir. March 29, 2011), though in the 7th U.S. Circuit Court of Appeals and applying Delaware law, could shrink available financing for venture capital backed technology companies. Most of these startups are incorporated in Delaware even though their operations centers may be elsewhere, such as Silicon Valley and San Diego. Under the "internal affairs doctrine," th...
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