In re Lighthouse Resources Inc. Wins ABI Asset Sales Committee's Fourth Annual "Asset Sale of the Year" Award

In re Lighthouse Resources Inc. Wins ABI Asset Sales Committee's Fourth Annual "Asset Sale of the Year" Award

Alexandria, Va. The American Bankruptcy Institute’s (ABI’s) Asset Sales Committee announced that the case of In re Lighthouse Resources Inc. et. al. (20-13056 JTD) (D. Del.), won its fourth annual “Asset Sale of the Year” award. The committee received 10 submissions vying for the top deal in the contest, and selected Lighthouse Resources as the top asset sale because the sale was integral to the innovative and successful use of a cost-effective bankruptcy process to obtain confirmation of a chapter 11 plan. Not only was the sale itself integral to the process, it was also complicated by an expedited timeline, a need for creative marketing, and the disparate nature of the real property itself. Neopharma, Inc. (E.D. Tenn.; Greeneville) received an honorable mention.

Bankruptcy sales (via either § 363 or a chapter 11 reorganization plan) that closed between January 1 and December 31, 2021, were eligible for the contest, and at least one professional involved in the sale had to be a member of ABI’s Asset Sales Committee. Self-nominations were permitted. Submissions were received from January through March 18, 2022. Criteria for submissions included:

  • Completion of a sale that was strategic and provided stakeholders with value;
  • A display of excellence across the full spectrum of the sale process, from the initial targeting through pursuit, structuring and financing to complete a transaction;
  • A sale that reflected a high level of professional expertise in the design of the transaction, and that tested creativity and skill in completing the transaction; and/or
  • A sale of strategic or legal significance and impact (such as overcoming challenges to complete the sale, innovative financial engineering, and motivating agreement across multiple stakeholders).

Previous winners of the “Asset Sale of the Year” contest include:


  • 2020: In re Verity Health System of California, Inc., Case No. 2:18-bk-20151-ER (C.D. Cal.)
  • 2019: In re Agera Energy, LLC, et al., Case No. 19-23802 (S.D.N.Y.)
  • 2018: In re Cobalt International Energy, Inc., et al. Case No.: 17-36709 (S.D. Tex.)

For further information about the Asset Sales Committee and ABI’s 16 other specialty-based ABI committees, please click here:


ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit For additional conference information, visit