Bankruptcy Asset Sales: Emerging Legal Strategies

Best Practices for Debtors and Creditors in Section 363, 1123 and 1129 Sales

Recording of a 90-minute CLE webinar with Q&A

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Conducted on Tuesday, June 8, 2010

Recorded event now available

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Course Materials

This CLE course will review and analyze trends and recent legal developments affecting asset sales for bankruptcy attorneys. The panel will offer practitioners guidance on leveraging these emerging strategies in future asset sales.

Description

Significant legal developments regarding bankruptcy asset sales have grown out of several recent high-profile and fast-track bankruptcy filings. For example, the GM and Chrysler asset sales involved many novel issues, setting the stage for bankruptcies in the future.

In the recent Philadelphia Newspaper case, the Third U.S. Circuit Court of Appeals denied a secured lender the right to credit-bid in asset sales pursuant to a plan of reorganization. Other creative bankruptcy asset sales involve insiders and equity holders employing “loan to own” strategies.

Listen as our authoritative panel of bankruptcy attorneys discusses the evolving landscape of bankruptcy asset sales and provides guidance on how debtors and creditors can take advantage of these emerging legal strategies.

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Outline

  1. Trends affecting asset sales
    1. Difficulty obtaining DIP/exit financing
    2. Prepackaged bankruptcy filings
    3. Out-of-court restructuring
  2. Legal developments in asset sales
    1. Section 363 sales post Chrysler and GM
      1. Sub rosa plan challenges
      2. Credit bidding pre-petition loans
      3. Free and clear issues
      4. Objections of lenders in syndicated group
    2. Sales to insiders and equity holders (loan-to-own)
    3. Stalking horse bids (Reliant Energy Channelview)
    4. Credit bidding (Philadelphia Newspapers)

Benefits

The panel will review these and other key questions:

  • What are the bankruptcy trends currently affecting asset sales and what is emerging for 2010?
  • How can bankruptcy attorneys in smaller and medium-sized bankruptcy cases use the legal arguments applied in the Chrysler and GM cases?
  • What is the anticipated impact of the recent federal court ruling in Philadelphia Newspapers for secured lenders?

Faculty

Douglas S. Mintz
Douglas S. Mintz
Special Counsel
Cadwalader Wickersham & Taft

He has experience in all aspects of bankruptcy and restructuring, representing secured lenders, debtors and official...  |  Read More

Felicia Gerber Perlman
Felicia Gerber Perlman
Partner
Skadden Arps

She represents clients in a variety of complex business reorganizations, debt restructurings and insolvency matters....  |  Read More

Trey A. Monsour
Trey A. Monsour
Partner
Haynes and Boone

He regularly represents nationally recognized banking institutions, large investment funds, Fortune 100 companies, and...  |  Read More

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