Section 363 Bankruptcy Sales
Navigating the Sale Process, Negotiating the Asset Purchase Agreement, and Conducting Due Diligence
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, September 2, 2010
Recorded event now available
This CLE webinar will provide attorneys with a thorough review of the Section 363 bankruptcy sale process and examine the associated risks and opportunities. The panel will outline best practices for counsel to buyers and secured creditors involved in Section 363 sales.
Description
Bankruptcy filings have increasingly become a vehicle for sale rather than reorganization. Acquisitions of distressed businesses are reaching record levels as buyers take advantage of bargain price opportunities. These investment opportunities present many legal and financial concerns.
Section 363 allows for a more expeditious and efficient sale than a Chapter 11 plan, although acquisitions through a section 363 sale pose legal hurdles for both buyers and sellers.
Counsel for the buyer and seller must understand the risks and opportunities in distressed bankruptcy sales and act strategically to negotiate a deal that maximizes the value of the troubled business to their clients’ respective benefits.
Listen as our authoritative panel reviews the Section 363 bankruptcy sale process, examines the associated risks and opportunities, and offers best practices for buyers and secured creditors involved in Section 363 sales.
Outline
- Asset sales generally
- Standards for approval under Section 363
- Sale procedures
- Use of professionals
- Due diligence
- Stalking horse bidders
- Auction process
- Sale orders
- Asset Purchase Agreement
- Lack of standard contractual protections
- Successor liability
- Sale of assets, clear of liens and encumbrances
- Assumption of contracts with anti-assignment provisions
- Best practices
- Due diligence
- Third party valuation of the assets
- Releases/waivers
Benefits
The panel will review these and other key questions:
- What risks do buyers and sellers face in 363 sales? What steps can the parties take to minimize those risks?
- What are some of the potential legal pitfalls in negotiating distressed M&A deals?
- What are the best practices for counsel on both sides of the deal to tailor terms in distressed transactions?
Faculty
George M. Cheever,
Of Counsel
K&L Gates, Pittsburgh, Pa.
He represents debtors, lenders, trade suppliers, landlords, and other creditors, purchasers of assets of bankrupt businesses, and creditor and equity security holder committees. He handles preference and avoidance litigation, the purchase and sale of bankruptcy claims, reclamation proceedings, automatic stay litigation, bankruptcy sales, contested plan confirmation hearings, and DIP financing.
Keith Miles Aurzada,
Partner
Bryan Cave, Dallas
His bankruptcy litigation experience includes representation of unsecured creditors' committees, secured creditors and debtors for banks and non-bank lenders and special servicers of commercial mortgage securitized trusts. He primarily focuses on companies in need of complex financial restructuring which he accomplishes through negotiation, litigation where necessary and the bankruptcy process.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, FL, GA, MO, MT, TX, VT, WA.
Upon request, also available in: CO, CT*, ID, KY, LA*, ME, NC, ND, NE, NH, NM, NV, OR*, SC, TN, UT, WI*, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*Indicates that Strafford must report attendance.)
Online CLE Audio $297.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, FL, GA, HI, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
Webinar Download (Slide Presentation with Audio) $297.00
Available three business days after the live event
DVD (Slide Presentation with Audio) $297.00
plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio with Slide PDFs) $297.00
Available 24 hours after the live event
CD (Audio with Slide PDFs) $297.00
plus $9.45 S&H
Available ten business days after the live event
Webinar/Teleconference
Strafford webinars/teleconferences offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program). Please note that our webinars do not feature videos of the presenters.
Program Materials
Requires Adobe Reader 8 or later. Download Acrobat FREE.
Program Materials
Requires Adobe Reader 8 or later. Download Acrobat FREE.
CLE Credit
Strafford's live seminars qualify for CLE in every state that accredits webinars. They offer you a high quality, cost effective, and convenient CLE option, with no lost travel time or expenses.
Customer Reviews
The information was relevant and well presented. The questions were good, and the speakers responded with clear knowledge.
Sheila Fox Morrison
Davis Wright Tremaine
Convenient and well-organized. Well-run program.
Michael V. Kruljac
IMERYS
I liked the combined depth of information and speed of presentation. Well done!
Andre Dalbec
SAANYS
The speakers were well versed and kept my attention throughout the program.
Natalie Kossak
Independent Fiduciary Services
The program provided good legal references, good bullet points and good scope.
Tim Thomas
Kolesar & Leatham
Bankruptcy Law Advisory Board
Partner
Nixon Peabody
Partner
Potter Anderson & Corroon
Of Counsel
Haynes & Boone
Shareholder
Greenberg Traurig
Partner
Dechert
Shareholder
Vedder Price
Partner
Nixon Peabody
Partner
Kaye Scholer
Counsel
Skadden Arps Slate Meagher & Flom
Our Guarantee
Strafford webinars and teleconferences are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10.