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Leveraged buyout
Usually applies where a company is purchased with a combination of equity and significant amounts of borrowed money, structured in such a way that the target company’s cash flows or assets are used as the collateral to secure and repay the borrowed money. Legal dictionary
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Landmark case
Sometimes known as a leading case, is a court decision that establishes an important new legal principle or concept, or which changes the previous interpretation of the current law. Legal dictionary
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Impeachment
A formal process in which an official is accused of unlawful activity, the outcome of which may include the removal of that official from office as well as criminal punishment or civil proceedings. Legal dictionary
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Persona non grata
Literally means ‘an unwelcome person’, and refers to a foreign person whose entering or remaining in a particular country is prohibited by that country’s government. It is the most serious form of censure which a country can apply to foreign diplomats, who are otherwise protected by diplomatic immunity from arrest and prosecution. Legal dictionary
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Due diligence
Is the investigation of a business or person prior to signing a contract. A common example of due diligence in various industries is the process through which a potential buyer evaluates a target company or its assets for an acquisition. Legal dictionary
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