Joel Greenberg Quoted by Dow Jones and Reuters on Clear Channel Buyout
Joel I. Greenberg, Partner and Co-Chair of the Corporate & Finance Department, was quoted in the March 27 Dow Jones article titled "Court Order Hands Early, If Temporary, Win To Clear Channel" and the March 27 Reuters article titled "Clear Channel says wins ruling on $20 bln buyout." Both articles discuss the temporary restraining order won by Clear Channel Communications Inc. in its lawsuit to prevent banks from backing out on their commitments to fund the $20 billion buyout of Clear Channel. "You have to understand what a TRO (temporary restraining order) is – an order issued without the benefit of seeing anything from the defendants," Mr. Greenberg said in the Dow Jones article that also appeared on CNNMoney.com. "This is a decision made having seen only the plaintiffs' papers," he said in the Reuters article that also appeared in the March 28 issue of La Tribune. "It obviously indicates some sympathy with their case, but it's hardly a decision in the merits." Mr. Greenberg said the order will not change anything until April 8, when the judge will hold a preliminary hearing and hear all parties involved. "It's the first step of many but one that banks would rather not have happened," he said.