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Asset Sales Committee

Committees

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.

Post date: Thursday, November 12, 2015

In September 2015, the U.S. Court of Appeals for the Third Circuit issued an opinion in In re ICL Holding Co. Inc. that further reinforces the ability to use § 363 sales and settlements to resolve chapter 11 cases.

Post date: Thursday, August 27, 2015

Section 363 sales are a common vehicle for a debtor and its creditors to receive fair value for the debtor’s assets through an open auction process supervised by the bankruptcy court. An open auction process is designed to generate a number of competitive offers for the debtor’s assets.

Post date: Thursday, August 27, 2015

On June 16, 2015, the Asset Sales Committee sponsored a webinar titled Buying and Selling Oil & Gas Assets in Bankruptcy Cases. The presentation, by Thompson & Knight Partner Ira L. Herman, Greenberg Traurig Shareholder Shari Heyen and Conway MacKenzie Managing Director Bryan M. Gaston, is available in ABI’s CLE Center.

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

Ms. Dawn M. Cica
Co-Chair
Mushkin - Cica - Coppedge
Las Vegas, NV
(702) 491-4377

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

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

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

Mr. James Robert Irving, Esq.
Special Projects Leader
Bingham Greenebaum Doll LLP
Louisville, KY
(502) 587-3606

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

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