Auction

News & Analysis as of

M&A: How to Maximize Your Return When Selling Your Business

As a family or private business owner, you know how to sell your product or service. But do you know how to sell the company itself? Selling a business that has been built over the years is emotional and stressful, and for...more

FCC Public Notice Provides Details for Incentive Auction

As noted in our recent advisory on this subject, the FCC adopted procedures for next year’s scheduled incentive auction at its open meeting on Aug. 6. The FCC has now released the details in a 156-page Public Notice,...more

Falling Oil Prices Are Not the Only Deterrent to Investment in Mexico's Oil Fields

On July 15, Mexico auctioned 14 shallow-water exploration blocks. The auction marked the first time in nearly eight decades that private and foreign investors could directly participate in Mexico's exploration and production...more

FERC Approves Settlement for Pipeline Failure to Publicly Post Auction Notices

On July 30, 2015, two weeks after the Office of Enforcement (OE) of the Federal Energy Regulatory Commission (FERC) issued a staff notice of alleged violations (“Notice”) to Columbia Gas Transmission LLC (“Columbia Gas”) for...more

Health Care Rep and Warranty Insurance: New Solutions for Private Equity Buyers and Sellers

Whether in an auction or proprietary transaction, risk allocation has typically been a function of indemnities tied to reps and warranties and the type of credit supporting the type of supporting credit. Holdbacks, earnouts,...more

SIC Proposes Revisions to the Singapore Code on Take-Overs and Mergers

The MAS Consultation Paper is proposing to update parts of the Singapore Code on Take-Overs and Mergers in view of market innovations and evolving international practices. On 6 July, the Securities Industry Council...more

Fifth Circuit Finds Parties Can Authorize Arbitrators By Their Conduct

The Fifth Circuit un-vacated an arbitration award last week, holding the district court had wrongly concluded that the court was the proper decision-maker on contract formation.  Although courts are presumptively authorized...more

Tennessee “As Is” Property Buyers Better Beware

A recent Tennessee Court of Appeals decision reinforces that parties to a contract are free to disclaim reliance on representations made by the other party. In Terry Pritchett v. Comas Montgomery Realty & Auction...more

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

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