Session Description
Bankruptcy attorneys regularly use auctions to liquidate assets, but few understand the underlying principles that make auctions successful, fair, and efficient. This session, inspired by Auctions by Timothy P. Hubbard and Harry J. Paarsch, provides an accessible introduction to auction theory tailored to bankruptcy practitioners. Attendees will learn about key auction types, common bidding strategies, and potential pitfalls like collusion and the "winner's curse." With a focus on practical applications, this session equips attorneys to better structure auctions, choose the right formats for specific assets, and advocate for processes that maximize creditor recovery. Perfect for attorneys aiming to enhance their approach to bankruptcy auctions and secure optimal outcomes for clients.
Learning Outcomes
By the end of this session, participants will be able to identify and differentiate between key auction formats used in bankruptcy contexts, understand fundamental bidding strategies and their impact on auction outcomes, and recognize common auction pitfalls, such as collusion and the winner’s curse. Attendees will gain practical insights into selecting auction structures that align with asset types and client goals, ensuring fairer and more effective liquidation processes. This knowledge will empower bankruptcy attorneys to enhance asset recovery efforts and better advocate for clients throughout the auction process.
