Novela Law Assists Qvale Auto Group in Acquiring the Assets of Champion Audi, the Largest Audi Dealership

Jan 26, 2010, 21:52 ET from Novela Law

MIAMI, Jan. 26 /PRNewswire/ -- The Miami law firm, Novela Law, a preeminent advocate in domestic and international business transactions, represented QVALE AUTO GROUP, and its local operating entities, AUDI CORAL SPRINGS and AUDI POMPANO BEACH, as lead counsel in negotiating and closing the acquisition of both CHAMPION AUDI dealerships located in Broward County, Florida, collectively the world's largest Audi dealership.

California based Qvale Auto Group and its affiliated companies are dealers of imported and domestic automobiles, with numerous auto dealerships. Bruce Qvale, President, sought out Novela Law's expertise with the $17 million acquisition.  Daniel Novela, a partner at Novela Law, worked on the acquisition over a five month period.  

Champion Audi had filed for Chapter 11 reorganization in May 2009. The acquisition was challenging because success depended on reaching an agreement acceptable to the seller, the bankruptcy court and the manufacturer, Audi.

Novela noted, "It has been a pleasure to represent Bruce Qvale and his businesses for a number of years.  These two Audi dealerships represent the finest within the Audi dealership franchise. A difficult economic environment and bankruptcy proceedings made this transaction interesting and challenging. We went through many different acquisition and financing structures due to the ever changing economic environment.  Happily, the parties involved were a pleasure to work with, and made for a smooth closing."

About Novela Law

Novela Law is a boutique Miami law firm focused on complex business and real estate transactions requiring innovative legal solutions.  The firm's corporate practice has included both domestic and international asset and stock purchases, merger agreements, corporate, project and acquisition finance, commercial finance, and counseling for ideal offshore corporate and trust structures.  The firm is headquartered at its 1390 Brickell Ave. office in Miami, FL.

If you'd like more information about this topic, or to schedule an interview, please call Mr. Daniel Novela at 305-371-6711 or email him at dnovela@novelalaw.com.

SOURCE Novela Law



RELATED LINKS

http://www.novelalaw.com