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Debtors Purchasers

Patterson Belknap Webb & Tyler LLP

Third Circuit Denies Large Break-up Fee in High-Profile EFH Case

The Third Circuit denied a $275 million break-up fee to a bidder that was unsuccessful in its attempt to buy the crown-jewel assets in the high-profile EFH bankruptcy case. In re Energy Future Holdings Corp., No 18-1109, 2018...more

K&L Gates LLP

K&L Gates Triage: Sales of Healthcare Businesses in Chapter 11– The Basics

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A sale of a business under Section 363 of the U.S. Bankruptcy Code or through Chapter 11 can provide the best possible title to the purchaser and may be an appropriate avenue for selected assets or complex and valuable going...more

Patterson Belknap Webb & Tyler LLP

Delaware Court Denies $60 Million Administrative Expense Claim in the EFH Case

The Bankruptcy Court in Delaware recently denied a request for an administrative expense claim to an entity that tried but failed to buy a debtor’s key assets. The decision arises out of the first of three attempts by...more

Dechert LLP

Special Purpose Vehicles’ Authority to File for Bankruptcy Revisited

Dechert LLP on

In order to file for bankruptcy in the United States, a company needs to secure the appropriate corporate authorizations as required by its governing documents. What happens when a debtor does not obtain appropriate...more

Dechert LLP

Secured Creditors in Section 363 Sales Be Aware -Your Proceeds May Be Used to Satisfy the Debtor’s Unpaid State Tax Liabilities

Dechert LLP on

It is a basic feature of sales under section 363 of the U.S. Bankruptcy Code, that the purchaser takes free and clear of all claims and interests, such claims and interests attach to the proceeds of the sale in accordance...more

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