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Sale of Assets Creditors

Paul Hastings LLP

The Legal 500’s Restructuring & Insolvency Comparative Guide

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Our London Financial Restructuring team authored the UK chapter of the 8th Edition of The Legal 500’s “Restructuring & Insolvency Comparative Guide". The guide provides information on the current issues affecting...more

Troutman Pepper

Should I Care That the Debtor Has Filed a Motion to Sell Its Assets? - Creditor’s Rights Toolkit

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Sales under Section 363 of the Bankruptcy Code have become commonplace in bankruptcy cases as a mechanism to liquidate a debtor's assets and maximize value for creditors. Selling the debtor's assets to a third party offers...more

Troutman Pepper

What Is a 341 Meeting, and Do I Need to Attend? - Creditor’s Rights Toolkit

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The purpose of the 341 Meeting is to examine the debtor’s financial position and to confirm facts stated by the debtor in the bankruptcy filing. While creditors are not required to attend the 341 Meeting, creditors have an...more

Troutman Pepper

Can I Net Amounts Owed to the Debtor Against Amounts Owed to Me? - Creditor’s Rights Toolkit

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There are two similar but distinct mechanisms through which a creditor might net amounts owed to the debtor against amounts owed by the debtor — setoff and recoupment. Understanding the distinction between them, and how...more

Barnea Jaffa Lande & Co.

Doing Business in Israel: Insolvency Law

The arrangements in Israel’s Insolvency and Economic Rehabilitation Law, enacted in 2018, include a series of special characteristics that must be taken into account when engaging with an Israeli corporation....more

Sullivan & Worcester

Transferring Risk in Trade Assets

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The original Bankers Association of Finance and Trade Master Participation Agreement (“BAFT MPA”) was launched in 2008 to enable market participants (with its focus on banking groups) to more easily enter into risk transfer...more

Troutman Pepper

Texas Ruling Guides on Asset Sales for Secured Creditors

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The general rule in bankruptcy is that administrative expenses, generally defined as the necessary costs and expenses of preserving property of the estate, are paid from the debtor's bankruptcy estate. Originally published...more

Polsinelli

Celsius Update: October 2022

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As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”) over the last month there have been a number of important updates in the case....more

Jones Day

Stopping the Phoenix From Rising: Australian Court Provides First Guidance on Creditor-Defeating Dispositions

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Background - In February 2020, the Corporations Act 2001 (Cth) ("Act") was amended to add a new class of voidable transactions for companies that are being would up known as "creditor-defeating dispositions". This change was...more

Nelson Mullins Riley & Scarborough LLP

Creditor Not Entitled to Post-Sale Discovery to Attempt to Amend Sale Proceeds Distribution

In In re Squirrels Rsch. Labs, LLC, No. 21-61491, 2022 WL 1310173, at *1 (Bankr. N.D. Ohio Apr. 29, 2022), the United States Bankruptcy Court for the Northern District of Ohio recently addressed whether post-sale of the...more

Ervin Cohen & Jessup LLP

What Duties Do Receivers Have To Provide Creditors?

Q: I am a creditor of an entity that is now in receivership. I have contacted the receiver, and her attorney, a number of times requesting information about what is going on, especially the proposed sale of the entity’s...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

Husch Blackwell LLP

Is Nash Engineering the Latest Company Bankrupted by Asbestos Litigation?

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Pump manufacturer Nash Engineering Company appears to have recently become the latest casualty of asbestos litigation. On October 19, 2021, Nash Engineering filed for Chapter 7 bankruptcy in the United States Bankruptcy Court...more

Jones Day

An Equitable Tightrope: Blackjewel's Balancing Act on After-Acquired Property in Bankruptcy

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It is well recognized that, in keeping with the "fresh start" or "rehabilitative" policy, the Bankruptcy Code invalidates after-acquired property clauses in prepetition security agreements, but also includes an exception to...more

Lowenstein Sandler LLP

When Chapter 11 Hits, D&O Claims Can Take the Unsecured Director Down

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Actions Against Directors, Officers Common After Chapter 11 Bulk-Asset Sales Leave Nothing to Recover- In the event of Chapter 11 Bankruptcy, creditors often look to recover funds by individually targeting directors or...more

Jones Day

Business Restructuring Review | September–October 2021

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Secured Lender’s Credit Bid Right In Bankruptcy Sale Denied - A secured creditor’s right to “credit bid” the amount of its allowed claim in a bankruptcy sale of its collateral is an important creditor protection codified...more

Jones Day

Secured Lender's Credit Bid Right in Bankruptcy Sale Denied

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A secured creditor's right to "credit bid" the amount of its allowed claim in a bankruptcy sale of its collateral is an important creditor protection codified in section 363(k) of the Bankruptcy Code. Even so, a ruling...more

Shumaker, Loop & Kendrick, LLP

Business Bankruptcy: Executive Summary - Need to Know Bankruptcy Concepts

According to the American Bankruptcy Institute, total commercial Chapter 11 filings in July 2021 decreased 62 percent from the previous year. Commercial Chapter 11 filings totaled 244 in July 2021, down from the July 2020...more

Lowenstein Sandler LLP

In Defense Of Expedited Bankruptcies

Expedited Chapter 11 bankruptcies are on the rise because they save money and because key constituents such as bank lenders and bondholders recognize that the more time that a debtor spends in Chapter 11, the more likely the...more

Goodwin

Proposals To Scrutinise Pre-Pack Administration Sales To Connected Parties

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On 8 October 2020 the UK Government published draft regulations which were intended to regulate and scrutinise pre-pack sales to connected parties. The regulations required that, in relation to a sale of all or substantially...more

McDermott Will & Emery

French and US Bankruptcy Sales Compared

For global creditors, bidders and other interested parties, the jurisdictional differences in bankruptcy proceedings is an issue that should not be ignored. Dissimilarities in US and French bankruptcy law necessitate a keen...more

Smith Debnam Narron Drake Saintsing & Myers,...

Guide to Post-Judgment Collections

In the hectic world of North Carolina civil litigation, the focused practitioner understandably may lose sight of the forest for the individual trees. Analyzing thousands of pages of poorly-copied document production for that...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Identifying IP Opportunities in Today’s Economy

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COVID-19 has taken a significant toll on a variety of businesses, and despite their best efforts, some may end up in bankruptcy. For those businesses, selling IP assets may enable them to find liquidity to satisfy creditors...more

K&L Gates LLP

COVID-19: UK Insolvency Reform - Scrutiny of Administration Pre-Pack Sales

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EXECUTIVE SUMMARY - On 8 October 2020, the UK Government's Insolvency Service issued a report on the state of pre-pack sales following the administration of insolvent UK companies (Pre-Pack Sales) and published draft...more

Greenberg Glusker LLP

Lessons for Health, Beauty & Wellness Companies [Part 3]: When to Consider Acquiring a Distressed Company

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In this short, three-part video series, Greenberg Glusker Partners Andrew Apfelberg and Brian Davidoff discuss important financial considerations for health, beauty and wellness companies in the wake of a pandemic. Part three...more

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