Asset Sales

Real Estate Auctions Generate Value in a Soft Market

A familiar complaint from someone who has sold real estate is that he  was not able to get the price that he asked for.  Equally familiar is the rejoinder of the broker; “I’m sorry, this is the best price we could get in this market.”  Ironically, the person that provides this rationalization is the same person who advised the seller how to price the property.

District Court Enron Opinion: A Pyrrhic Victory for Traders

Going Long with IP Assets

Intangible assets have been among the last class of assets to garner respect in bankruptcy proceedings. Until recently, trademarks, patents and know-how have withered on the vine as bankruptcy professionals (financial advisors, restructuring professionals and attorneys) have focused on other areas to maximize value and achieve a timely outcome. Now that intangibles are starting to gain more attention, professionals may wish to revisit the traditional asset sale process.

Collusion in Bankruptcy Sales Part III – Collusion Versus Collaboration

Part I of this four-part series discussed, in general terms, the prohibition of collusion in bankruptcy sales under section 363(n) of the Bankruptcy Code. Part II discussed the fine line separating permissible collaboration from impermissible collusion.

Going Long with IP Assets

Intangible assets have been among the last class of assets to garner respect in bankruptcy proceedings. Until recently, trademarks, patents and know-how have withered on the vine as bankruptcy professionals (financial advisors, restructuring professionals and attorneys) have focused on other areas to maximize value and achieve a timely outcome. Now that intangibles are starting to gain more attention, professionals may wish to revisit the traditional asset sale process.

Committee Co-Chairs and New Leadership Positions Announced

ABI is pleased to announce your 2008-2009 co-chairs, as well as the addition of five new leadership positions.  These new positions are a result of your feedback regarding opportunities for involvement and advancement in the association.  The first position is that of the Education Director, who will assist the chairs in coordinating and administering the educational programs each year at the Annual Spring Meeting and the Winter Leadership Conference, as well as any other educational projects.  The second pos

Protecting an Expense Reimbursement and Breakup Fee in an Overleveraged World

The sale of all or substantially all of the assets of a business pursuant to §363 (363 sale) of the Code in a chapter 11 case has become more commonplace in recent years as acquirors seek to purchase target businesses in an accelerated manner while shedding many of those businesses’ liabilities. This strategic choice often involves the asset purchase agreement (APA) and the 363 sale procedures for conducting the auction sale (bidding procedures) being negotiated prior to the commencement of the target company’s chapter 11 case.

Protecting an Expense Reimbursement and Breakup Fee in an Overleveraged World

The sale of all or substantially all of the assets of a business pursuant to §363 (363 sale) of the Code in a chapter 11 case has become more commonplace in recent years as acquirors seek to purchase target businesses in an accelerated manner while shedding many of those businesses’ liabilities.

Committee Co-Chairs and New Leadership Positions Announced

ABI is pleased to announce your 2008-2009 co-chairs, as well as the addition of five new leadership positions.  These new positions are a result of your feedback regarding opportunities for involvement and advancement in the association.  The first position is that of the Education Director, who will assist the chairs in coordinating and administering the educational programs each year at the Annual Spring Meeting and the Winter Leadership Conference, as well as any other educational projects.  The second pos

Taking the Success Out of Successor Liability

"When a debtor files for bankruptcy, it is often because numerous creditors are asserting competing interests in whatever assets the debtor may have. A debtor may have pledged its inventory and manufacturing equipment as collateral for an operating loan from the bank. The same manufacturing equipment may be encumbered by a purchase money security interest from the equipment vendor. The landlord may also have taken a blanket lien on the debtor’s assets as security for the lease.