Similar to domestic bankruptcy cases, in chapter 15 cases the sale or disposition of property located in the U.S.
Editor’s Note: The following article, “Spanish Peaks’ Reinvigoration of the Precision Industries Debate: Rejection in the Context of a § 363 Sale Free and Clear of Commercial Leasehold Interests” won the prize for third place in the Tenth Annual ABI Bankruptcy Law Student Writing Competition. Mr.
This article examines certain key provisions in asset-purchase agreements that practitioners will want to pay attention to when purchasing assets in bankruptcy sales.
A recent decision from the U.S. Bankruptcy Court for the District of Montana highlights the limits of the term “interests” under § 363(f) of the Bankruptcy Code and the limits of “good faith” under § 363(m). In In re Mountain Divide LLC, Case No. 16-61015-11 (Bankr. D. Mont.
Federal policy weighs heavily in favor of protecting the finality of sale orders in bankruptcy. “It has been held that 11 U.S.C.
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.). The issue was whether an executory contract that was neither affirmatively assumed nor rejected was assumed and assigned in a § 363 sale transaction.
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.
On Oct. 24, 2017, the U.S. Court of Appeals for the Third Circuit in In re Pursuit Capital Management LLC 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.
Labor Issues in 363 Sales: Things You Need to Know
The Unsecured Trade Creditors' Committee's call discussed “gifting” and other recent developments regarding application of the absolute priority rule.
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.
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.
Don’t Restrict My Sale: The Enforceability of Restrictive Covenants and Easements in Assets Sales in Bankruptcy
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.
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.