Nomination Deadline: Friday, March 31, 2023
Nomination Deadline: Friday, March 31, 2023
On April 29, 2022, the ABI Asset Sales Committee announced that the 2021 Asset Sale of the Year was awarded to In re Lighthouse Resources, Inc., et al. (Bankr. D. Del. Consol. Case No. 20-bk-13056- JTD), for the sale of its Wyoming real property assets.
We hope this newsletter finds you well. We welcome our new members and look forward to seeing all of you at our upcoming events.
What happens when intervening events or a change of circumstances occurs that affects the value of the assets and the benefit to the estate when selling them to one bidder over another?
In January 2021, we published an article exploring the legislative history and broad provisions of subchapter V of chapter 11 as they relate to asset sales. In that article, we acknowledged that liquidation and going-concern sales are possible under subchapter V, but predicted that
We hope this report finds you and your family doing well. 2021 was another year of lockdowns and Zoom meetings, but also COVID-19 shots and slowly returning to the real world. Our committee leadership has strived to help its members navigate the ever-changing world of distressed sales via access to helpful content and the opportunity to engage in discussions on topics relevant to asset sales.
The Asset Sales Committee is actively soliciting nominations for the Fourth Annual ABI Asset Sales Committee Sale of the Year Award. Details are set forth below. Please submit your best deal.
Friday, March 18, 2022
One of the primary purposes of chapter 11 is to maximize the value of a debtor’s assets.
ABI’s Asset Sales Committee announced that In re Verity Health System of California Inc., Case No. 2:18-bk-20151-ER (C.D. Cal.), won the committee’s third annual “Asset Sale of the Year” award.
Two recent district court decisions, each involving appeals of a bankruptcy sale order where the appellant(s) failed to obtain a stay pending appeal, provide insight into statutory mootness under § 363(m) of the Bankruptcy Code. In both In re HDR Holdings Inc. and Barnes v.
This panel will discuss what happens when lenders default on paying borrowers for non-monetary reasons, such as covenant or compliance violations on real estate loans like debt-coverage-ratio violations. The lenders’ goal is to regain possession of the real estate for investment purposes and deploy it at higher interest rates. The panelists will discuss the impact and efficacy of this strategy from all angles: institutional lender-side, borrower-side and investor-side.
On February 8, 2023, Evelyn Meltzer and Kyle Ortiz, co-chairs for the International Committee, co-hosted the 2023 Look Ahead with members of the Asset Sales Committee. Evelyn and Kyle discussed what the committee has been up to as well as future events and speaking and writing opportunities for committee members. Click here to watch the video of this event.
This panel will discuss some of the more interesting aspects of the asset-recovery process as it relates to locating foreign assets (i.e., Russian yachts). The panelists also will focus on post-COVID-19 issues, including situations where banks were not monitoring collateral as closely as they should have been and are now having trouble locating said assets and selling them, particularly in international cases where the bankruptcy is abroad but the parties are seeking recognition in the U.S.
This panel will focus on covering lenders’ perspectives on chapter 11 strategy and options, such as note sales, out-of-court restructurings or formal bankruptcy sales, and will discuss lenders’ and borrowers’ perspectives on regulatory challenges and procedural issues, such as anti-trust and environmental concerns, that are sometimes raised during a bankruptcy case, as well as issues with § 363 sales, DIP milestones and restructuring support agreements.
Marijuana-related businesses are being denied access to bankruptcy relief in all but a tiny handful of cases. This webinar will discuss prospects for success in bankruptcy court, available alternative methods of affording relief to troubled cannabis businesses, and possibilities for changes in the regulatory climate.
We will take a deeper dive into some of the more interesting and unique local rules that practitioners should be aware of when completing assets sales in various districts. The panelists will also discuss the need for local rules, differences across jurisdictions, and the process for revisions and implementation.
Hosted by the Asset Sales and Financial Advisors and Investment Banking Committees. FAs, IBs, RE advisors, attorneys: too many cooks in the kitchen? This panel will discuss the anatomy of the bankruptcy sales process and focus on optimizing value by drawing on the resource skills of attorneys, investment banks, financial advisors and real estate advisors.
This webinar will provide an overview of key provisions in, and frequent disputes regarding, bidding procedure orders and bidding procedures. The webinar will cover both a basic introduction to the topic, as well as a discussion on advanced hot issues and recent trends in this area of law.
This panel hosted by the Asset Sales and Health Care Committees will discuss the Top 10 Issues to Be Aware of When Buying a Health Care Business, and How to Plan for the Inevitable Surprises.
The Asset Sales Committee will host a webinar on the roles of secured, undersecured and unsecured creditors and committees in asset sales and bidding processes involving complex capital structures. The discussion will focus on the challenges and complications that can arise in seeking an expedited sale free and clear of claims and liens and means by which creditors and committees can use the sale process to their advantage.