News & Analysis as of

Stalking Horse Bids

Troutman Pepper

What Is a Stalking Horse Bidder in a Section 363 Sale and Why Might I Want to Be One? - Creditor's Rights Toolkit

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Serving as the stalking horse bidder in a Section 363 sale can provide a buyer with financial and legal protections, as well as better position the buyer to ultimately acquire the debtor’s assets. This article addresses the...more

Seward & Kissel LLP

Customer is Always Right, Setting the Bar, and Flipping Bird

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FTX Files Reorganization Plan to End Bankruptcy, Repay Creditors| CoinDesk - On Saturday, the collapsed crypto exchange FTX submitted a reorganization plan which included plans to repay up to 90 percent of creditors’...more

Jones Day

Fifth Circuit: Bid Protections for Stalking Horse in Bankruptcy Asset Sale Satisfied Both Business Judgment and Administrative...

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Bankruptcy and appellate courts disagree over the standard that should apply to a request for payment of a break-up fee or expense reimbursement to the losing bidder in a sale of assets outside the ordinary course of the...more

BCLP

The bankruptcy Pegasus: stalking horse agreements in aviation

BCLP on

The bankruptcy Pegasus: stalking horse agreements in aviation - The Covid-19 pandemic has had a significant impact on the aviation industry, with regular international travel being halted for prolonged periods since March...more

Jones Day

Stalking Horse Bidder May Be Entitled to Administrative Priority for Expenses Despite Failure to Close Bankruptcy Sale

Jones Day on

In In re Energy Future Holdings Corp., 990 F.3d 728 (3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit ruled that even though a "stalking horse" bidder failed to obtain necessary regulatory approvals to close an...more

Lowenstein Sandler LLP

Finding Good Real Estate Deals Among The Ruins

Lowenstein Sandler LLP on

As we enter year two of the COVID-19 pandemic, the number of new Chapter 11 cases being commenced has slowed to a trickle. But the cycle will turn again. There are always companies that lose a major customer, fail to adapt to...more

Smith Debnam Narron Drake Saintsing & Myers,...

Court Approves Sale of Assets to Third Party Despite Stalking Horse Bad Faith Allegations Against Purchaser

United States Bankruptcy Judge John E. Waites approved a sale of substantially all the assets of a small business Chapter 11 Debtor over the protests of a “Stalking Horse” bidder who claimed the successful bidder was acting...more

Polsinelli

The Devil's Dictionary of Bankruptcy Terms: Stalking Horse

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The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy...more

Perkins Coie

Some Holiday Cheer for a Challenging Retail Environment

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It would be an understatement to say that 2017 has been a difficult year for the retail sector. Store closings and bankruptcy filings punctuate the news almost daily. However, challenges beget opportunities, and this...more

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