Auction

News & Analysis as of

Second Circuit Affirms Dismissal of Lawsuit over Mortgage Auction Terms

On March 31, 2015, the Second Circuit in Truman Capital Advisors LP v. Nationstar Mortgage, LLC, No. 14-cv-3533 (2d Cir. Mar. 31, 2015), affirmed the dismissal of a lawsuit involving the auction sale of hundreds of...more

Toysmart Pt. Deux

An auction of RadioShack assets which concluded this week included the names and physical addresses of 65 million customers and email addresses of 13 million customers. The auction result and transfer of assets is still...more

U.S. Marshals Announce Latest Bitcoin Auction Results

On March 5, the U.S. Marshals Service auctioned 50,000 bitcoins seized in relation to the case involving the black market website Silk Road. Three individuals – out of the 14 registered bidders – were the winning bidders....more

U.S. Marshals to Auction 50,000 Bitcoins Seized During Investigation of Silk Road Operator

On February 18, the U.S. Marshals Service announced that it will auction 50,000 bitcoins seized from wallet files found on computer hardware belonging to Ross Ulbricht, who was recently convicted in connection with his...more

"Communications: Significant Actions on the Horizon"

The Federal Communications Commission (FCC) addressed a number of longstanding issues in 2014, including reform of its E-rate program that provides federal subsidies for purchases of broadband services by schools and...more

Landlord’s Checklist For Cell Tower Transfers

The Federal Communications Commission recently closed a spectrum auction that raised more than $41 billion. Among the companies making a large investment in the auction was Verizon. It reportedly spent $10.4 billion for this...more

Real Estate Sales: Fixtures Can Be In the Eye of the Beholder (a/k/a Boilerplate Matters)

In re Trackwell, 520 B.R. 788 (Bankr. W.D. Mo. 2014) – The successful bidder at a bankruptcy auction of a ranch claimed that a cattle chute was included in the sold assets.  The debtors disagreed.  Resolution of the dispute...more

Federal offshore wind auction held for sites off Massachusetts

Federal ocean energy managers have concluded an auction to lease over 350,000 acres off the Massachusetts coast to prepare for offshore wind development. Of the four parcels up for bid in today's auction, one was...more

Bankruptcy Sales: “It Ain’t Over ’Til It’s Over”

Great Plains Royalty Corp. v. Earl Schwartz Co. (In re Great Plains Royalty Corp.), 520 B.R. 292 (Bankr. D. N.D. 2014) – Two companies that acquired assets in a bankruptcy auction moved to reopen the case to clarify...more

Despite Potential Market Manipulation, FERC Declines to Reject Power Auction Results

The Federal Energy Regulatory Commission (FERC or the Commission) recently opted not to take action to set aside the results of a power auction that was allegedly manipulated. In the face of significant public complaints,...more

New Delaware Decisions Provide Strong Support for Independent Board Decisions in the Sale of a Company

On December 19, 2014, the Delaware Supreme Court, in C&J Energy Services, Inc. v. City of Miami General Employees' & Sanitation Employees' Retirement Trust, issued a strongly worded decision refusing to enjoin a change of...more

Banking Bulletin: Saddle Up! Livestock Lenders and Livestock Leasing

On August 14, 2014, in a dispute regarding entitlement to proceeds resulting from an auction of livestock in possession of a dairy farmer-debtor, the U.S. Court of Appeals for the Sixth Circuit issued an order in favor of a...more

No Auction Required – Delaware Supreme Court Affirms Board Flexibility under Revlon

Ruling that an active solicitation process is not necessarily required for a target board of directors to satisfy its fiduciary duties in a change of control transaction, the Delaware Supreme Court overturned a preliminary...more

Delaware Supreme Court Says Window Shopping Without Auction Enough in C&J-Nabors Case

In November, the Delaware Chancery Court agreed to temporarily bar C&J Energy Services Inc. investors from voting on a proposed merger between C&J and the hydraulic fracturing and well-sealing units of Nabors Industries Ltd. ...more

Alert: FCC Seeks Comment on Complex Broadcast Incentive Auction Procedures

In a Public Notice approved in a 3–2 partisan vote, the Federal Communications Commission is asking for comment on the procedures that will govern the Broadcast Incentive Auction, currently scheduled for early 2016. The...more

US to auction Massachusetts offshore wind sites

The U.S. Department of the Interior has announced plans to auction more than 742,000 acres offshore Massachusetts for commercial wind energy development. On January 29, 2015, the Department's Bureau of Ocean Energy...more

Department of Interior Announces January Auction Date for Martha’s Vineyard Wind Energy Leases

On November 24th, the Department of the Interior’s Bureau of Ocean Energy Management (BOEM) announced that it would be auctioning off four commercial leases for the Wind Energy Area (WEA) south of Martha’s Vineyard on January...more

DOJ Criminal Cartel Enforcement: Six-Month Summary

This is the first in what we expect to be a series of updates on DOJ criminal actions in the cartel area. Here, we look at highlights over the last six months in the DOJ’s investigations of the auto parts industry, LIBOR, and...more

When Things Do Not Go As Planned In A Bankruptcy Sale

Buying distressed assets is big business. Many distressed assets are acquired through the seller’s Chapter 11 bankruptcy case. In those instances, a buyer will enter into a purchase and sale agreement with the...more

CPSC Clarifies Changes to Monthly Recall Report Form

In May, we advised readers conducting recalls that the CPSC’s new monthly “recall progress report” form may catch you by surprise. Among other changes, the form included new provisions requesting companies to report recall...more

BLM to Overhaul Solar/Wind Rights-of-Way Regulations

Last week, the Bureau of Land Management (BLM) published a proposed rule that could alter the landscape of future renewable energy development, particularly in the American West, home to much of the country’s prime solar and...more

Clear Rift Highlighted by Commissioners’ Lack of Action on New England’s Most Recent Forward Capacity Auction Results

On September 16, 2014, the Federal Energy Regulatory Commission’s four Commissioners issued statements explaining a 2-2 deadlock between Chairman LaFleur and Commissioner Moeller on the one hand and Commissioner Clark and new...more

Credit Bid: Loan-to-Own Strikes Out

In re The Free Lance-Star Publ’g Co. of Fredericksburg, VA, 512 B.R. 798 (Bankr. E.D. Va. 2014) – After the debtors obtained court approval of bidding procedures to auction substantially all of their assets, a secured...more

Feds Announce Application Process for Rural Broadband Experiments

On August 19th, the Federal Communications Commission released a public notice detailing the application process for entities interested in participating in the rural broadband experiments. The notice outlines specific...more

FCC Establishes Application Procedures for Rural Broadband Experiments – Application Deadline Set for Oct. 14

On August 19, the FCC’s Wireline Competition Bureau released a public notice establishing the process for applying for support under the Rural Broadband Experiments program. Applications under this program must be submitted...more

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