Co-Chairs’ Corner
Hello and thank you to our existing members, and a warm welcome to those who have recently joined us. We hope this newsletter finds you well, and we look forward to seeing all of you in the coming year.
Committees
Launched in 2014, Shift Technologies was a consumer-centric, omnichannel retailer for buying and selling used cars with the goal of improving the customer car-buying experience.[1] The company went public in 2020 via a de-SPAC merger and thereafter effectuated a number of strategic acquisitions, including the acquisition of complementa
The use of social media accounts by companies is now commonplace, and these social media accounts have themselves become valuable assets.[1] In a recent bankruptcy case, the debtor company sought to sell substantially all of its assets, and the bankruptcy court had to analyze who owned the debtor’s social media accounts: the debtor, or
Nomination Deadline: March 18, 2024
Criteria
- Completion of a distressed sale (in or outside of court via § 363, a plan, an assignment for benefit of creditors, Article 9, receivership, etc.) that was strategic and provided stakeholders with value (“Sale”);
In business restructuring and chapter 11 cases, it’s not all that unusual at the outset for professionals to exclaim at some juncture, “You want me to do what…?” That was the question prior to the initiation of the Laforta-Gestao e Investimentos, Sociedade Unipessol, Lda., et al.
ABI’s Asset Sales Committee awarded the 2022 Asset Sale of the Year Award to counsel for the stakeholders involved in the successful 11 U.S.C. § 363 sale of the assets and interests of chapter 11 debtor Haven Campus Communities-Starkville, LLC in In re Haven Campus Communities-Starkville, LLC, which came before Hon. Selene Maddox of the U.S.
On April 21, 2023, ABI’s Asset Sales Committee announced that the 2022 Asset Sale of the Year was awarded to the case of In re Electric Last Mile Solutions Inc., et al. (Bankr. D. Del. Case 22-10537-MFW), for the sale of substantially all its assets to Mullen Automotive, Inc. (NASDAQ: MULN).
Hello and thank you to our existing members, and a warm welcome to those recently joining us. We hope this newsletter finds you well, and we look forward to seeing all of you in the coming year.
Nomination Deadline: Friday, March 31, 2023
Criteria
- Completion of a distressed sale (in or outside of court via § 363, a plan, an assignment for benefit of creditors, Article 9, receivership, etc.) that was strategic and provided stakeholders with value (“Sale”);
Mon, 2023-04-24
This panel will discuss what happens when lenders default on paying borrowers for non-monetary reasons, such as covenant or compliance violations on real estate loans like debt-coverage-ratio violations. The lenders’ goal is to regain possession of the real estate for investment purposes and deploy it at higher interest rates. The panelists will discuss the impact and efficacy of this strategy from all angles: institutional lender-side, borrower-side and investor-side.
Wed, 2023-02-08
On February 8, 2023, Evelyn Meltzer and Kyle Ortiz, co-chairs for the International Committee, co-hosted the 2023 Look Ahead with members of the Asset Sales Committee. Evelyn and Kyle discussed what the committee has been up to as well as future events and speaking and writing opportunities for committee members. Click here to watch the video of this event.
Sat, 2022-12-10
This panel will discuss some of the more interesting aspects of the asset-recovery process as it relates to locating foreign assets (i.e., Russian yachts). The panelists also will focus on post-COVID-19 issues, including situations where banks were not monitoring collateral as closely as they should have been and are now having trouble locating said assets and selling them, particularly in international cases where the bankruptcy is abroad but the parties are seeking recognition in the U.S.
Fri, 2022-04-29
This panel will focus on covering lenders’ perspectives on chapter 11 strategy and options, such as note sales, out-of-court restructurings or formal bankruptcy sales, and will discuss lenders’ and borrowers’ perspectives on regulatory challenges and procedural issues, such as anti-trust and environmental concerns, that are sometimes raised during a bankruptcy case, as well as issues with § 363 sales, DIP milestones and restructuring support agreements.
Tue, 2020-01-28
Marijuana-related businesses are being denied access to bankruptcy relief in all but a tiny handful of cases. This webinar will discuss prospects for success in bankruptcy court, available alternative methods of affording relief to troubled cannabis businesses, and possibilities for changes in the regulatory climate.
Thu, 2019-10-10
We will take a deeper dive into some of the more interesting and unique local rules that practitioners should be aware of when completing assets sales in various districts. The panelists will also discuss the need for local rules, differences across jurisdictions, and the process for revisions and implementation.
Thu, 2019-06-20
Hosted by the Asset Sales and Financial Advisors and Investment Banking Committees. FAs, IBs, RE advisors, attorneys: too many cooks in the kitchen? This panel will discuss the anatomy of the bankruptcy sales process and focus on optimizing value by drawing on the resource skills of attorneys, investment banks, financial advisors and real estate advisors.
Tue, 2017-11-14
This webinar will provide an overview of key provisions in, and frequent disputes regarding, bidding procedure orders and bidding procedures. The webinar will cover both a basic introduction to the topic, as well as a discussion on advanced hot issues and recent trends in this area of law.
Sat, 2017-04-22
This panel hosted by the Asset Sales and Health Care Committees will discuss the Top 10 Issues to Be Aware of When Buying a Health Care Business, and How to Plan for the Inevitable Surprises.
Thu, 2017-03-09
The Asset Sales Committee will host a webinar on the roles of secured, undersecured and unsecured creditors and committees in asset sales and bidding processes involving complex capital structures. The discussion will focus on the challenges and complications that can arise in seeking an expedited sale free and clear of claims and liens and means by which creditors and committees can use the sale process to their advantage.
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Mr. Matthew J. LoCascio
Co-Chair
SC&H Capital
Ellicott City, MD
(443) 951-4846
Co-Chair
SC&H Capital
Ellicott City, MD
(443) 951-4846
Ms. Randye B. Soref
Co-Chair
Polsinelli
Los Angeles, CA
(310) 556-1801
Co-Chair
Polsinelli
Los Angeles, CA
(310) 556-1801
Mrs. Hayley G. Harrison
Communications Manager
Wernick Law PLLC
Miami, FL
(561) 961-0922
Communications Manager
Wernick Law PLLC
Miami, FL
(561) 961-0922
Ms. Jane Kim
Education Director
Keller Benvenutti Kim LLP
San Francisco, CA
(415) 364-6793
Education Director
Keller Benvenutti Kim LLP
San Francisco, CA
(415) 364-6793
Mr. William Hao
Membership Relations Director
Alston & Bird LLP
New York, NY
(212) 210-9417
Membership Relations Director
Alston & Bird LLP
New York, NY
(212) 210-9417
Mr. Christopher M. Candon
Newsletter Editor
Sheehan Phinney
Manchester, NH
(603) 627-8168
Newsletter Editor
Sheehan Phinney
Manchester, NH
(603) 627-8168
Mr. Steven L. Victor
Special Projects Leader
Development Specialists, Inc.
Chicago, IL
(312) 263-4141
Special Projects Leader
Development Specialists, Inc.
Chicago, IL
(312) 263-4141