Culp Elliott & Carpenter represented Phantom Industries, Inc., a Canadian textile manufacturer, in the successful negotiating, structuring and drafting of Phantom’s agreement to purchase the operating assets of North Carolina-based Glendale Hosiery, Ltd. Phantom, a proven leader in the manufacture and distribution of hosiery products, wanted to establish a presence in the United States and looked to the Firm as a trusted advisor to handle this transaction and to protect its interests. This multi-faceted transaction involved extensive due diligence and documentation and intensive negotiations with Glendale and its principals, Phantom’s financing sources, and Glendale’s secured lender.

Through a team effort of the Firm’s attorneys, CPAs and support staff and a close working relationship with Phantom principals, the Firm was able to successfully address and resolve complex issues relating to finance, corporate law, commercial law, secured transactions, bankruptcy, employment matters, intellectual property rights and multi-national tax matters. As Phantom’s lead United States counsel, the Firm has since represented Phantom on an ongoing basis in a number of areas including contract, finance, employment and commercial transactions, and most recently in the successful sale of its North Carolina operating assets to Acme-McCrary Corporation.

The professionalism, advocacy and skill of our professionals and staff, coupled with our ingenuity and resources, have allowed us to provide top service to Phantom and other clients, and a competitive advantage over their business counterparts.