News & Analysis as of

Sale of Assets Asset Purchaser

Levenfeld Pearlstein, LLC

Decision regarding Sears’ Retail Space in Mall of America Bankruptcy: Section 363(m) Is Not a Jurisdictional Statute

Section 363(m) of the Bankruptcy Code is one of the most important and well-known statutes to bankruptcy practitioners. This section of the Bankruptcy Code protects a good faith asset purchaser who purchases assets from a...more

Jones Day

The Eleventh Circuit Revisits the Doctrine of Statutory Mootness in Bankruptcy Sales

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The finality of sales of assets in bankruptcy is an indispensable feature of U.S. bankruptcy law, designed to maximize the value of a bankruptcy estate as expeditiously as possible for the benefit of all stakeholders....more

Dorsey & Whitney LLP

Weinstein Case Demonstrates Difficulties in Following Complex Bankruptcy Sales

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Everyone is likely familiar with the chapter 11 bankruptcy of The Weinstein Company (“TWC“), an former film and production studio that previously produced and distributed featured films and premium television content...more

Seyfarth Shaw LLP

Is a Purchase in Bankruptcy Really Free and Clear of Liability During COVID-19?

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Seyfarth Synopsis: In acquiring a company in bankruptcy, there is often a tendency to think this guarantees the purchaser will be “free and clear” of any liability (including so-called “successor liability”). This is not...more

Seyfarth Shaw LLP

Distressed Company M&A in the Time of COVID-19: Benefits and Risks of Section 363 Sales

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The COVID-19 pandemic and the drastic measures taken in an effort to mitigate its adverse impact have sent shock waves throughout the US and global financial systems. ...more

Jones Day

Seventh Circuit: Section 363(m) Does Not Moot but Instead Provides a Defense to an Appeal of an Unstayed Bankruptcy Asset Sale...

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In Trinity 83 Dev., LLC v. ColFin Midwest Funding, LLC, 917 F.3d 599 (7th Cir. 2019), the U.S. Court of Appeals for the Seventh Circuit held that section 363(m) of the Bankruptcy Code does not moot an appeal involving a...more

K&L Gates LLP

Distressed Solutions: Representing Non-US Entities in US Bankruptcy Cases

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U.S. Bankruptcy Courts present unique challenges for non-US entities. In this episode, Lee Hogewood (Raleigh), Sven Nylen (Chicago), and host Jeffrey Kucera (Miami) discuss how they have helped non-US entities overcome...more

Gray Reed

Texas Supreme Court Dabbles in Bankruptcy Law

Gray Reed on

Noble Energy Inc. v. ConocoPhillips Company, a 6-to-3 Texas Supreme Court decision, is a reminder of two things: How parties to a property transaction describe what’s being acquired and what’s being left behind can have...more

Jones Day

Sixth Circuit Rejects Per Se Rule Automatically Mooting Sale Appeals in the Absence of a Stay

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Debtors beware: The Sixth Circuit Court of Appeals has recently expanded the ability of parties to appeal a bankruptcy court's approval of a sale of assets notwithstanding the statutory mootness rule set forth in section...more

McGuireWoods LLP

Another Court Deals with Privileged Communications' Ownership after a Corporate Transaction

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Most if not all courts recognize that selling a corporation's stock transfers ownership of the corporation's privileged communications. These can include even communications about the sale transaction. Great Hill Equity...more

Seyfarth Shaw LLP

Is An Asset Purchaser Liable For Seller’s Withdrawal Liability?

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Many asset buyers believe that, as long as they do not agree to ERISA Section 4204’s sale of assets exception to withdrawal liability, they will acquire the seller’s assets free and clear of any prior contribution history and...more

Shumaker, Loop & Kendrick, LLP

Letter of Intent: Gateway to a Deal

Your time is valuable. So is the business that you are thinking about selling or the business you intend to acquire. You may also be thinking that before running up professional advisor costs, your business folks should...more

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