Where Federal Statutes Collide: What § 363 Does Not Clear Out

Sponsored by Preti, Flaherty, Beliveau & Pachios, Chtd., LLP

Three cases in the last year have demonstrated that § 363 does not fix everything. In Dean Foods, § 363 did not protect the purchaser from the Sherman Antitrust Act; the purchaser was forced to divest itself of purchased assets in a U.S. DOJ antitrust action. In GNC, CFIUS interposed (unsuccessfully) to try to prevent the sale of assets to a Chinese company owned by the PRC government. Finally, in Exide, CERCLA rendered four contaminated properties unsalable, resulting in abandonment (arguably in contravention of the SCOTUS Midlantic decision, appeal pending). This panel discusses these issues and more.