Asset Sales

Going to a Bankruptcy Auction Naked: Stalking-Horse Strategies to Maximize Auction Proceeds

In the realm of bankruptcy auctions, the goal is to maximize proceeds for stakeholders through a process that is transparent and beyond reproach. This article discusses strategies for running a pre-auction process to choose a stalking horse, ensuring that no stone is left unturned in the pursuit of maximizing value.

In Stalking Horse Sales, Courts Have Flexibility to Reopen Bidding After the Deadline

The debtor’s duty to land the best price for an asset can overcome the winning bidder’s expectation that sale procedures will be enforced rigorously.

Bio-Hazard! The Sale of Biogenetic Data in a Bankruptcy Proceeding

April 2025

Remnant Asset Sales Achieve Full and Final Estate Administration at Maximum Value

For nearly 20 years, insolvency estate professionals have utilized “remnant asset” sales as a prudent and efficient means to fully and finally administer estate assets, and thereby fulfill their fiduciary duty to maximize estate value for the benefit of creditors.[1] This simple practice, which has become commonplace in the restructuring industry, applies to all wind-down contexts regardless of approach, including liquidations under chapters 7 and 11, and subchapter V of the Bankruptcy Code, assignments for the benefit of creditors, state and feder

A Good Faith Objection to a Sale Cannot Be Raised the First Time on Appeal

The existence of a competing bidder does not put the buyer on notice of an ‘adverse interest’ to avoid dismissal for mootness under Section 363(m), the Sixth Circuit BAP says.

In ‘363’ Sales, Three Courts Say Purdue Doesn’t Bar Injunctions Protecting Buyers

For a sale ‘free and clear,’ nondebtors can be enjoined from suing.

Strategic Use of Chapter 15 and Its Intersection with § 363: Can a U.S. Court Sell a Foreign Debtor’s Assets Free and Clear?

Alternatives to Bankruptcy, Including Receiverships and ABCs

Seventh Annual ABI Asset Sale of the Year Award Information

Nomination Deadline: February 28, 2025

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;

Drag-Along Clause as a Tool to Sell Assets of the Company

In Poland, the rules for the transfer of shares in a limited liability company (LLC) are specified in the Commercial Companies Code (CCC). According to Article 180 of the CCC, [1] the transfer of a share, or a fraction thereof, must be in writing with notarized signatures. The company agreement may contain additional restrictions on the transfer of shares, such as the need to obtain the company's consent to their sale or the introduction of a preemptive right for other shareholders.