Asset Sales Committee

Committees

Post date: Tuesday, May 11, 2021
Photo of Matthew J. LoCascio
Matthew J. LoCascio

“Stalking horse” is a term that instills hope in the minds of creditors and debtors while striking fear in the hearts of other bidders. When running a § 363 sale process, identifying a stalking-horse bidder (the bidder that submits the highest and best initial bid) lays the groundwork for the rest of the proceedings.

Post date: Wednesday, March 17, 2021

Recent allegations of impropriety of bidders in the reorganization of Neiman Marcus Group Ltd. LLC should serve as a reminder to study the line between mere auction strategy and collusive bidding. The word “collusion” itself seems to cause confusion whenever it is uttered in the political or legal realms.

Post date: Tuesday, March 16, 2021

One of the hallmarks of purchasing assets from a bankruptcy estate under § 363 of the Bankruptcy Code is the perceived ability of a buyer to purchase those assets “free and clear of any interest in such property” if certain conditions are met.[1] A common phrasing in many motions seeking to sell assets under § 363 is that the assets ar

Post date: Tuesday, March 16, 2021

ABI’s Asset Sales and Ethics and Professional Compensation Committees sponsored a great webinar on Feb.

Post date: Friday, January 22, 2021

A small business debtor who elects to proceed under subchapter V of chapter 11[1] has the same rights and powers to sell property under 11 U.S.C.

Post date: Tuesday, October 20, 2020

Abe’s Boat Rentals Inc. filed for chapter 11 on April 27, 2018, in the U.S. Bankruptcy Court for the Eastern District of Louisiana. On Feb. 22, 2019, the debtor filed an Application for Order Authorizing Employment of Whelton Marine LLC as Marine Broker (the “Application to Employ”) in order to sell a 2008 Tiara 4300 Sovran yacht (the “vessel” or “M/V Heaven”).

Post date: Tuesday, October 20, 2020

The ABI Asset Sales Committee announced the winner of the second annual Asset Sale of the Year Award at the beginning of a July 22, 2020, Asset Sales Committee webinar titled, Evolving Landscape of Distressed M&A Activity.

Post date: Tuesday, October 20, 2020

When a retail debtor seeks to sell its assets in a chapter 11 proceeding pursuant to § 363 of the Bankruptcy Code, one of the key issues that often arises is whether the debtor will be permitted, as part of such sale, to assume and assign its store leases to the proposed buyer pursuant to § 365 of the Bankruptcy Code.

Post date: Tuesday, April 07, 2020

As the pace of chapter 11 cases quickens and the time frames within which theyare filed, administered and closed become condensed, so too do the issues that may arise with accelerated asset sales under § 363 of the Bankruptcy Code.

Post date: Tuesday, April 07, 2020

Thirty-three states and the District of Columbia permit some form of marijuana sales, and 11 states and the District of Columbia have enacted laws for the recreational sale and use of marijuana. Yet marijuana remains a “Schedule I” drug under the Controlled Substances Act,[1] equivalent to heroin under federal law.

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Mr. Matthew J. LoCascio
Co-Chair
SC&H Capital
Ellicott City, MD
(443) 951-4846

Ms. Randye B. Soref
Co-Chair
Polsinelli
Los Angeles, CA
(310) 556-1801

Ms. Jane Kim
Education Director
Keller Benvenutti Kim LLP
San Francisco, CA
(415) 364-6793

Mr. William Hao
Membership Relations Director
Alston & Bird LLP
New York, NY
(212) 210-9417

Mr. Christopher M. Candon
Newsletter Editor
Sheehan Phinney
Manchester, NH
(603) 627-8168

Mr. Steven L. Victor
Special Projects Leader
Development Specialists, Inc.
Chicago, IL
(312) 263-4141

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