News & Analysis as of

Competitive Bidding Commercial Bankruptcy

Barnea Jaffa Lande & Co.

Increasing the odds of winning in an insolvent Corporation auction

Acquiring an insolvent corporation’s operations during a legal proceeding (rehabilitation, recovery, or debt settlement) presents numerous business opportunities. However, the holding of an insolvency auction, an integral...more

Goodwin

Top 10 Questions About Bankruptcy Sales - A Primer on Sales Under Section 363 of the Bankruptcy Code

Goodwin on

A bankruptcy sale is an opportunity to potentially acquire assets at distressed pricing. A bankruptcy sale also presents prospective bidders with a level playing field to conduct due diligence, submit a bid, and compete...more

Perkins Coie

Celsius Bidding Procedures Create Possible Bidding Opportunities

Perkins Coie on

The Celsius Network bankruptcy cases provide another opportunity for parties to acquire their assets and/or operations. As predicted in an earlier post, the bankruptcy court issued an order in the Celsius cases, approving...more

Nutter McClennen & Fish LLP

Finding Opportunity in Distressed Circumstances

Q:  Do opportunities exist for asset buyers in times of distress? A: Yes, valuable assets may be for sale at affordable prices in times of distress for two reasons. First, a primary means of raising liquidity for cash-starved...more

BCLP

The Stalking Horse Bid Protections: The Auction Credit Conundrum, and How to Avoid It

BCLP on

The Scenario - You’re an investor kicking the tires on a company in bankruptcy. If you agree to be the “stalking horse” bidder, you’ll expend significant time and money vetting the opportunity (including attorneys’ fees,...more

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

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

Kramer Levin Naftalis & Frankel LLP

Third Circuit Reinforces that Rules are Not Meant to Be Broken

The Third Circuit recently held, in Schepis v. Burtch (In re Pursuit Capital Management, LLC), No. 16-3953, 2017 WL 4783009 (3d Cir. Oct. 24, 2017), that under section 363(m) of the Bankruptcy Code, if a party does not seek a...more

Ward and Smith, P.A.

The Section 363 Sale Process: Buying Assets from a Bankrupt Company

Ward and Smith, P.A. on

Businesses struggle and bankruptcies are filed for a number of reasons, regardless of the economic climate. While unfortunate, this provides opportunities for others to purchase assets of distressed companies through the...more

Troutman Pepper

Brokers: Rely on Broker Statements at Your Peril

Troutman Pepper on

Alamo Group, LLC v. A & G Realty Partners, LLC (In re OSC 1 Liquidating Corp.), 529 B.R. 825 (Bankr. D. Del. 2015) – A purchaser of debtors’ lease designation rights filed a complaint in bankruptcy court against the debtors’...more

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