University Requests Cullen and Dykman to Assist with Educational Affiliation
When our client sought to affiliate with another university as an initial step to eventually consolidating under the Education Law, Cullen and Dykman advised the university’s administration and Board of Trustees on a host of issues including proper process for affiliations and consolidations pursuant to the rules of the Board of Regents, drafting a memorandum of understanding and consolidation agreement for use by the universities, advising on potential conflicts of interest, fiduciary duties and other aspects of Board governance and responsibilities and amending various corporate governance documents in order to reflect the corporate changes resulting from the affiliation. Our attorneys attended a number of Board meetings and public forums where the issues pertaining to the affiliation and often assisted university administration and Trustees to deal with those stakeholders who were opposed to the affiliation. As educational affiliations and consolidations rarely occur, this was a case of the first impression for our education group and our attorneys zealously assisted the client with shaping its history and future.