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Asset Sales Committee

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Post date: Tuesday, July 11, 2017

Bidding procedures establish a road map for the sale of a debtor’s assets in bankruptcy. This article examines certain key provisions a potential bidder on such assets will want included as part of the bidding procedures. While this list is not intended to be exhaustive, it serves as a good starting point for advancing the goals of a potential bidder.

 

Post date: Thursday, December 08, 2016

During 2016, the Asset Sales Committee leadership has strived to provide committee members with access to helpful content and the opportunity to engage in discussions on relevant issues.

Conference Programs:

Post date: Wednesday, September 07, 2016

Bankruptcy Code § 363(e) requires that when property is sold free and clear of an interest in property, the court shall prohibit or condition such sale as is necessary to provide adequate protection of such interest.

Post date: Wednesday, September 07, 2016

In our current bankruptcy regime, sales under § 363 of the Bankruptcy Code are by far the norm, followed by conversion or dismissal, and sometimes, instead, a liquidating plan. Liquidating plans can be a favorable way to wrap up a bankruptcy case, freeing the debtor from many of the filing, procedural and disclosure burdens of the Bankruptcy Code and simplifying the wind-down process.

Post date: Thursday, June 16, 2016

[1]Chapter 11 has largely become the sale chapter of the Bankruptcy Code. If the case is not a quick sale case, then it probably is a debt-for-equity swap. A traditional chapter 11 reorganization is expensive and, because of its relatively low success rate, is viewed by many lenders as not worth it.

Post date: Tuesday, May 17, 2016

The current process for administering chapter 7 cases was established at a time when paper documents had to be hand-delivered to the courts for processing. It was an era of “runners.”

Post date: Thursday, April 28, 2016

In June 2015, Bankruptcy Judge John T. Gregg ruled in In re Family Christian[1] that all administrative priority claims, including those arising under § 503(b)(9), must be paid as part of the price of a § 363 sale of the debtor’s assets.

Factual Background

Post date: Thursday, April 28, 2016

One of the most significant benefits of acquiring assets out of a bankruptcy estate is the ability to obtain those assets free and clear of liens, claims, interests and encumbrances, pursuant to § 363 of the Bankruptcy Code and the terms of a bankruptcy court sale order.

Post date: Thursday, April 28, 2016

We know 2015 was a bleak year for coal, oil and natural gas producers, with at least 67 bankruptcy filings. 2016 is not looking much better. Surpluses of coal, oil and natural gas continue to weigh down prices and threaten companies’ balance sheets.

Post date: Thursday, November 12, 2015

Your client or borrower is a troubled business that desperately needs to find a buyer or new money, and fast. Somebody suggests that your client/borrower hire an intermediary, but the company already has one “offer” (for purchase, refinance, investment), so is reluctant to hire an investment banker to run a thorough process to find other possible solutions.

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Ms. Janice A. Alwin
Co-Chair
Oak Point Partners
Skokie, IL
(847) 577-1374

Ms. Dawn M. Cica, Esq.
Co-Chair
Carlyon Cica Chtd
Las Vegas, NV
(702) 491-4377

Mr. James Robert Irving, Esq.
Communications Manager
Bingham Greenebaum Doll LLP
Louisville, KY
(502) 587-3606

Ms. Leyza Florin Blanco
Education Director
Sequor Law
Miami, FL
(305) 372-8282

Ms. Evelyn Meltzer, Esq.
Education Director
Pepper Hamilton LLP
Wilmington, DE
(302) 777-6532

Ms. Randye B. Soref
Membership Relations Director
Polsinelli
Los Angeles, CA
(310) 556-1801

Mrs. Alicia M. Bendana
Newsletter Editor
Lowe, Stein, Hoffman, Allweiss & Hauver LLP
New Orleans, LA
(504) 581-2450

Mr. Matthew J. LoCascio
Special Projects Leader
Equity Partners HG
Easton, MD
(866) 969-1115

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