Update on Section 363 of the Bankruptcy Code and Delaware Bankruptcy Court’s Decision in the Fisker Automotive Holdings Inc. Bankruptcy Case
Several recent legal and regulatory developments in the U.S. will likely alter the makeup of the group of arrangers and financiers willing to arrange and provide financing for certain highly leveraged transactions, and also...more
Recently, a chink to the armor of distressed debt purchasers resonated throughout the secondary market with the decision of the Delaware Bankruptcy Court in In re Fisker Automotive Holdings, in which the bankruptcy court...more
As is well known, the right to credit bid is the entitlement of a secured lender to bid the amount of its outstanding claims at the sale of its collateral. If the secured lender places the winning bid, no money is exchanged...more
Buyers and sellers of distressed debt should be aware of the recent decision in the Fisker bankruptcy case, In re Fisker Automotive Holdings, Inc., 2014 WL 210593 (Bankr. D. Del.), which drastically limited the right of a...more
Section 363 of the Bankruptcy code has been a topic of discussion in legal circles lately. We are joined by Henry Jaffe, a partner in Pepper’s Corporate Restructuring and Bankruptcy Practice Group, to discuss Section 363 and...more
Without question, the bedrock of bankruptcy, particularly a successful one, is consent. Indeed, the notion of consent is threaded throughout the Bankruptcy Code and related law in respect of diverse issues ranging from the...more
On January 17, 2014, the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) entered an order in the Fisker Automotive (“Fisker”) chapter 11 bankruptcy cases limiting the ability of Fisker’s...more
A Delaware bankruptcy court recently limited a secured creditor’s right to credit bid an acquired claim to the purchase price of that claim. In In re Fisker Auto. Holdings, Inc., 2014 Bankr. LEXIS 230 (Bankr. D. Del. January...more
When Fisker filed bankruptcy in November, it planned to sell its assets to Hybrid Tech, the acquirer of Fisker’s $168.5 million loan from the Department of Energy, by way of credit bid. Before the sale (requiring the approval...more