Court Opinion

ID: 9730228
Source: CourtListenerOpinion
Date Created: 2023-08-26 15:06:09.074197+00
Date Added: 2024-06-11T18:26:05.151182
License: Public Domain

Concurring opinion by
ALMA L.
LÓPEZ, Chief Justice.
I concur with the majority’s opinion but write separately to address the standing issue. The majority relies on case law holding that a corporate name change has no effect on a company’s rights and liabilities; however, this is not a case involving a mere change in name. This case involves substantial corporate restructuring arising from a settlement agreement entered into to prevent a corporation from potentially being forced into bankruptcy. Athough Wooster Ladder changed its name from Bauer Corporation in the midst of this restructuring, I do not believe we can limit our analysis to the effect of the name change without taking into consideration the entire corporate restructuring.
In the original panel opinion, I concluded that Wooster Ladder did not have standing to seek injunctive relief because its rights were not personally invaded. Clearly, no issue regarding standing would have arisen if the newly created Bauer Corporation had sought injunctive relief, and it would appear to have been a simple matter for both entities to have jointly sought the injunctive relief. However, focusing on the language contained in the Modified Judgment and the settlement transaction as a whole, I now believe that Wooster Ladder has a personal stake in the outcome of the controversy sufficient to establish standing.
The Modified Judgment states, “It is stipulated that this Modified Judgment does not in any way change, alter, or modify the terms and conditions of the settlement agreement by and between the above-described parties.... Said settlement agreement has been previously executed by all parties and/or their representatives.” It is undisputed that Wooster Ladder was a party to the settlement agreement, and the modified judgment expressly states that the settlement agreement was not changed, altered, or modified by the modified judgment. Accordingly, as a party to the settlement agreement that resulted in the modified judgment, I would hold that Wooster Ladder has a personal stake in the outcome of the controversy sufficient to establish standing.