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Asset Sales Committee

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Post date: Tuesday, May 01, 2018

Federal policy weighs heavily in favor of protecting the finality of sale orders in bankruptcy.[1] “It has been held that 11 U.S.C.

Post date: Tuesday, May 01, 2018

On Feb. 21, 2018, the U.S. Bankruptcy Court for the District of Delaware issued its opinion in Stanley Jacobs Prod. Ltd. v. 9472541 Can. Inc. (In re Thane Int'l Inc.).[1] The issue was whether an executory contract that was neither affirmatively assumed nor rejected was assumed and assigned in a § 363 sale transaction.


Fernando J. Menendez, Jr.
Post date: Sunday, February 04, 2018

Orders approving the sale of assets in bankruptcy provide the required authorization for the disposition of estate property outside of the ordinary course of the debtor’s business.

Post date: Sunday, February 04, 2018

[1]The recent case of In re Energy Future Holdings[2] highlights the difficulties and risks of using break-up fees within chapter 11 cases.

Post date: Sunday, February 04, 2018

On Oct. 24, 2017, the U.S. Court of Appeals for the Third Circuit in In re Pursuit Capital Management LLC[1] struck down an appeal as moot pursuant to a strict interpretation of Bankruptcy Code § 363(m) in large part due to the appellant’s failure to seek a stay of a sale order in the lower court.

Post date: Thursday, November 02, 2017

State court receiverships have become a popular alternative to federal bankruptcy proceedings for the sale of distressed businesses.[1] In Wisconsin, Wis. Stats.

Post date: Thursday, November 02, 2017

It is no secret that restaurants and bars have high mortality rates. When these businesses fail, liquor licenses are frequently the only remaining valuable asset. Liquor licenses are crucial to restaurants and other hospitality venues’ ongoing operations and can be worth a lot of money.

Post date: Thursday, September 07, 2017

After a bankruptcy case closed, a third party (CVC) sued the purchaser (ADM) of property acquired from the debtors in a bankruptcy sale. CVC claimed that it had a right of first refusal (ROFR) with respect to the property. In response, ADM contended that the ROFR did not survive the “free and clear” bankruptcy sale.

Post date: Thursday, September 07, 2017

What happens when property of the estate that a trustee or debtor-in-possession proposes to sell “free and clear” is subject to unexpired lease interests? The resolution of this question requires the reconciliation of two separate provisions of the Bankruptcy Code that most often operate independently and in isolation. The first provision, 11 U.S.C.

Post date: Tuesday, July 11, 2017

Buyers of distressed companies typically prefer to conduct their acquisitions through bankruptcy. Various provisions of the Bankruptcy Code and Rules allow a buyer to acquire assets free and clear of a wide array of liabilities.

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Fri, 2016-04-15

Labor Issues in 363 Sales: Things You Need to Know

Wed, 2016-03-30

The Unsecured Trade Creditors' Committee's call discussed  “gifting” and other recent developments regarding application of the absolute priority rule.

Thu, 2016-03-10

The Asset Sales Committee hosted a conference call discussing the GM successor liability decision now on appeal in the Second Circuit. John Hutton (Greenberg Traurig LLP; Miami) and Henry Jaffe (Pepper Hamilton LLP; Wilmington) led a conference call discussing the issues raised and being briefed before the Second Circuit in the GM successor liability appeal.

Tue, 2015-09-08

The Asset Sales Committee will host John Hutton and Henry Jaffe as they discuss the GM successor liability decision, now on appeal in the Second Circuit, describing the arguments and positions taken by different parties on key issues in the case and discussing the potential impact of the ruling on appeal.

Fri, 2015-04-17

Don’t Restrict My Sale: The Enforceability of Restrictive Covenants and Easements in Assets Sales in Bankruptcy

Wed, 2014-11-12

The Asset Sales Committee hosted their most recent committee call on Wednesday, November 12. This call was titled "Bankruptcy Reform Commission’s Consideration of a Proposal to Surcharge Secured Lenders for 363 Asset Sales," and worked to more broadly inform and engage bankruptcy and restructuring professionals about the proposal being considered by the Bankruptcy Reform Commission to assess a charge on secured lenders for 363 asset sales in Chapter 11.

Thu, 2014-10-02

The October 2nd conference call for ABI's Asset Sales Committee provided a brief overview of the Fisker Automotive opinions, as well as their progeny, including Free-Lance Star. The discussion also explored the practical implications of those decisions for practitioners representing different constituents in a restructuring. The call was led by Oscar N. Pinkas of Dentons US LLP in New York, and Justin F. Paget of Hunton & Williams LLP in Richmond, Virginia.

Mr. Peter J. Barrett
Co-Chair
Partner
Kutak Rock LLP
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Co-Chair
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Ms. Evelyn Meltzer, Esq.
Newsletter Editor
Partner
Pepper Hamilton LLP
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Wilmington DE
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Ms. Leyza Florin Blanco
Newsletter Editor
Member
Sequor Law
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Miami FL
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Communications Manager
Managing Director
Equity Partners HG
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Easton MD
21601-3196
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Education Director
Vice President and General Counsel
Oak Point Partners
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60077-1094
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Membership Relations Director
Of Counsel
Lowe, Stein, Hoffman, Allweiss & Hauver LLP
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Special Projects Leader
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Proskauer
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