Section 363 Bankruptcy Sales
Navigating the Sale Process and Negotiating the Asset Purchase Agreement
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, March 22, 2012
Recorded event now available
This CLE webinar will provide bankruptcy attorneys with a thorough review of the Section 363 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
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 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, MO, MT, TX*, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, 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, HI, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, 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. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
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
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Program Materials
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Program Materials
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CLE Credit
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Customer Reviews
The seminar was very insightful with a terrific grasp of the relevant case law and legal issues.
Gregory Fox
Friedman Kaplan Seiler & Adelman LLP
The program material was very well organized and thorough.
Laura Buckley
Higgs, Fletcher & Mack
The webinar was very informative on very pertinent matters and had a good flow.
Noam Wiener
Allen & Overy LLP
The program was very thorough, stayed on topic and was well organized.
Thad Wilson
King & Spalding LLP
Presentations were excellent. I especially benefited from the question and answer session, as the speakers addressed actual situations that affect many of us.
Angelica Toro
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