Some cases really should not be all that difficult. However, when judges choose to divorce statutory text completely from any reference to underlying legislative intent and long standing commercial practice, inexplicable results follow.
Committees
Philadelphia Newspapers LLC and its related debtor entities, as debtors and debtors-in-possession (the debtors), proposed a plan of reorganization that included, among other things, the sale of substantially all of their assets by public auction pursuant to §363 of chapter 11 of title 11 of the U.S. Bankruptcy Code.
In these unprecedented times, fast-track sales of troubled companies are prevalent across a wide range of industry sectors. With traditional M&A, there are a variety of options available to companies seeking to restructure their businesses, but there are no guarantees that a transaction will take place.
Since companies are increasingly finding themselves in distressed situations, here is a simple opportunity to act upon that often yields significant dividends: Invest in understanding intellectual property (IP). The IP of an entity needs to be understood as an important value driver for its business and a potent vehicle to increasing potential recovery.
With a substantially increasing number of chapter 11 cases filed ending up in a sale pursuant to Bankruptcy Code §363, bankruptcy practitioners are now essentially required to develop an understanding of the parameters of credit bidding under §363.
PART I
In late August 2008, Judge Allan L.
An out-of-court workout technique sometimes employed by a distressed business and its secured lender is the so-called "friendly foreclosure." By this procedure, the debtor and its secured lender arrange for a voluntary repossession of the debtor's assets by the secured lender and a pre-determined and substantially contemporaneo
September 2008
Mr. Matthew J. LoCascio
Co-Chair
SC&H Capital
Ellicott City, MD
(443) 951-4846
Co-Chair
SC&H Capital
Ellicott City, MD
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Ms. Randye B. Soref
Co-Chair
Polsinelli
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Co-Chair
Polsinelli
Los Angeles, CA
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Ms. Jane Kim
Education Director
Keller Benvenutti Kim LLP
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Education Director
Keller Benvenutti Kim LLP
San Francisco, CA
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Mr. William Hao
Membership Relations Director
Alston & Bird LLP
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Membership Relations Director
Alston & Bird LLP
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Mr. Christopher M. Candon
Newsletter Editor
Sheehan Phinney
Manchester, NH
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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