Asset Sales

Co-Chairs Corner

As we wrap up another incredible year, we wanted to take a moment to thank all of our members and reflect on our accomplishments together. It's been a year of growth, challenges and successes, and we're excited to share the highlights with you in this final newsletter of 2024. We look forward to the opportunities and adventures the new year will bring and hope to see many of you at future ABI events in 2025.

Unique Asset Sale Issues in Health Care

This panel will identify the unique issues that come into play in health care asset sales, from hospitals to senior living facilities. The panelists will address closing challenges, regulatory issues, HIPPA/privacy issues, Opco/Propco issues and much more.

2023's Health Care Asset Sale of the Year: Borrego Community Health Foundation

The recipients of ABI's 2023 Health Care Asset Sale of the Year award will discuss the company's threatened suspension by the California Medi-Cal program and the execution of a strategy that initially had led to court orders stopping the suspension, then later culminated in the sale of assets. Hear specifically how Borrego's professionals navigated complex health care, regulatory and bankruptcy issues, which ultimately resulted in a settlement and sale that ensured the continuation of high-quality, culturally competent care to Borrego's patients and a substantial recovery for creditors.

Asset Sales | June 2024

Co-Chairs’ Corner

Co-Chairs’ Corner

Hello and thank you to our existing members, and a warm welcome to those who have recently joined us. We hope this newsletter finds you well, and we look forward to seeing all of you in the coming year.

Shift Technologies, Inc.: Salvaging Technology and Digital Assets in Chapter 11, a Case Study by Hilco Streambank

Launched in 2014, Shift Technologies was a consumer-centric, omnichannel retailer for buying and selling used cars with the goal of improving the customer car-buying experience.[1] The company went public in 2020 via a de-SPAC merger and thereafter effectuated a number of strategic acquisitions, including the acquisition of complementary online vehicle-selling technology platform Fair Dealer Services, LLC and CarLotz, Inc., a consignment-to-retail used vehicles marketplace that operated a tech-enabled buying, sourcing and selling model online and a

Free and Clear? Attorney General Approval in § 363 Sales of California Health Care Facilities

More than half of the private hospitals in this country are run by nonprofits.[1] In California, that figure may exceed 70%.[2] It has been well documented that health care bankruptcies are on the rise, and that these health care bankruptcies often result in the sale of substantially all of the health care nonprofit’s assets pursuant to § 363 of the Bankruptcy Code.[3] By quickly selling its assets to a more financially sound entity, a health care nonprofit m

Social Media Accounts and Subchapter S Election: All Vital Assets

The use of social media accounts by companies is now commonplace, and these social media accounts have themselves become valuable assets.[1] In a recent bankruptcy case, the debtor company sought to sell substantially all of its assets, and the bankruptcy court had to analyze who owned the debtor’s social media accounts: the debtor, or the debtor’s former CEO.

Asset Sales | January 2024

Sixth Annual ABI Asset Sale of the Year Award Information

Nomination Deadline: March 18, 2024

Criteria

• Completion of a distressed sale (in or outside of court via § 363, a plan, an assignment for benefit of creditors, Article 9, receivership, etc.) that was strategic and provided stakeholders with value (“Sale”);
• A display of excellence across the full spectrum of the Sale process, from the initial targeting through pursuit, structuring and financing, to completion of a transaction;