Sale of Assets

News & Analysis as of

Company Selling Assets Must Include Employees on Military Leave in List of Employees Available for Hire

The Uniformed Services Employment and Reemployment Rights Act (USERRA) provides broad protections to employees called for active military service. Last month, the Eighth Circuit Court of Appeals found that these protections...more

What Happens To A Covenant Not To Compete Upon The Sale Of A Business?

Be careful with covenants not to compete when you buy or sell a business. That's the lesson from Amerigas Propane, LP v. Coffey, 2014 NCBC 4, decided this week by Judge Jolly....more

Tax Litigation Update: Second Circuit Tweaks its Standard of Review in Tax Cases Involving Mixed Questions of Law and Fact;...

On November 14, 2013, the United States Court of Appeals for the Second Circuit clarified the standard of review for mixed questions of law and fact in a case on review from the Tax Court. The case, Diebold Foundation, Inc....more

More On Asset Sales And The Attorney-Client Privilege

Last week, I dipped a toe into the difficult topic of what happens to the attorney-client privilege in merger and acquisition transactions. In that post, I framed a definitional question – is the attorney-client privilege an...more

BP Withdraws Wind Assets From Auction

In an unexpected about face, BP has canceled the auction of its interest in 16 North American wind farms, a 2,600 MW portfolio valued by some at $1.5 billion. BP’s intent to spin off its wind assets was first announced in...more

FTC Formalizes Withdrawal and Refiling Process

On June 28, the Federal Trade Commission (FTC) formalized new rules to codify its informal procedures for companies completing transactions that require US merger control filings pursuant to the Hart-Scott-Rodino Act (HSR)....more

HUD Updates Pre-Foreclosure And Deed-In-Lieu Of Foreclosure Requirements, Extends Unemployment Forbearance

On July 9, HUD issued Mortgagee Letter 2013-23, which updates pre-foreclosure sale (PFS) and deed-in-lieu (DIL) foreclosure requirements for FHA-approved mortgagees....more

Unique aspects of sales involving nonprofit assets in bankruptcy

Sales of a debtor’s assets, either pursuant to section 363 of the Bankruptcy Code or through a confirmed chapter 11 plan of reorganization, have become increasingly common in recent years and are generally viewed as an...more

IRS Issues Final Regulations Treating Qualified Stock Dispositions as Asset Sales

On May 10, 2013, the Internal Revenue Service (IRS) and Treasury Department released the long-awaited final regulations under Section 336(e) of the Internal Revenue Code, treating certain sales, exchanges, and distributions...more

Taxation Of Computer Software Sales: Ordinary Income, Capital Gain, Or Both?

The taxation of computer software is complex, confusing, and in some circumstances, uncertain; although self-created computer software is routinely sold today, especially with the significant increase in the number of...more

Shareholders Can't Block Asset Sales When Receivers Manage

Under California law, minority shareholders owning 10 percent or more of a corporation can block a sale of assets to the controlling shareholders in dissolution proceedings. However, that rule does not apply where the court...more

Renewable Energy Update -- February 12, 2013

In This Issue: Renewable Energy Focus - DOE, Treasury release $150M In unused Section 48C Clean Energy Manufacturing Tax Credits; Obama picks REI chief Jewell to head Interior Department; US emissions fall to lowest...more

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