Section 363 Bankruptcy Sales: Key Considerations in the Auction Process, Private Sales, Due Diligence, and Operations
This program is postponed. New date TBD.
A live 90-minute CLE video webinar with interactive Q&A
This CLE webinar will examine Section 363 sales, with particular focus on key issues that can impact the rights and obligations of parties in interest before, during, and after an auction or private sale.
- Section 363 requirements generally: when an auction vs. a private sale is appropriate
- The stalking-horse bid
- Break-up fee and expense reimbursement
- Super-priority administrative expense, carve-out
- The bankruptcy sale efforts--publication, actual notice to parties-in-interest
- Due diligence: reasonable period before bid, access to documents
- Successor liability
- Executory contracts and unexpired leases
- Attacks on credit bidding
- How to close the sale
- Operating the business post-sale
- The future of Section 363 sales
The panel will review these and other key issues:
- What role does the stalking-horse bidder have in formulating the bidding process, and what are its primary concerns?
- What notice and due diligence rights should bidders want to see in the bidding procedures?
- What process should be followed for accepting and distributing qualified bids?
- How can a bidder ensure it has the flexibility to accept or reject executory contracts and unexpired leases upon closing of a 363 sale?
James T. Bentley
Winston & Strawn
Mr. Bentley represents hedge funds, private equity funds, alternative asset managers, trustees, secured and unsecured... | Read More
Mr. Bentley represents hedge funds, private equity funds, alternative asset managers, trustees, secured and unsecured creditors, and other stakeholders in every aspect of the restructuring process. His experience with restructurings spans many industries including retail, automotive, energy, healthcare, restaurants, radio and television, real estate, and securities. He negotiates and litigates a range of complex issues including contested bankruptcy sales, plan confirmation, debtor-in-possession financing, cash collateral, fraudulent transfers, equitable subordination, and recharacterization, and also advises clients about distressed investment strategies. He also works on a number of Article 9 foreclosures on unique collateral.Close
to be announced.