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About The DailyDAC Editors
The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.
Articles by The DailyDAC Editors
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Please Join DailyDAC at the Following Events 3rd Annual NYIC, GSCA and ABI Golf and Tennis Outing DailyDAC is a proud media sponsor of this event on September 16, 2019, at Cedar Hill Golf and Country Club in Livingston, NJ. The day starts with a brunch at 11 am followed by the golf and […]
90 Second Lesson: What is an “Exchange Offer?”
QUESTION: Fred T. emailed, asking, “I own securities of a company and heard on the news that it is contemplating doing an “exchange offer.” What is an exchange offer? ANSWER: An exchange offer is one way a company can complete an out-of-court restructuring. And, for a distressed company that has public debt it may […]
PUBLIC NOTICE OF ARTICLE 9 SALE: Spring Marketplace, Inc.
PUBLIC SALE UNDER ARTICLE 9 OF THE UCC OF COLLATERAL ASSETS INVOLVING SPRING MARKETPLACE, INC Certain assets of Spring Marketplace, Inc. (the “Company”) described below (the “Assets”) are to be auctioned at a public sale under UCC Article 9 by the secured lender Hoban Road Ventures LLC. The Assets consist of substantially all of the […]
LLC Membership Interests in Chapter 11 – Can They be Sold Over Other Members’ Objections?
Interpretation Matters When a chapter 11 debtor holds a membership interest in an LLC, it may be permissible for them to sell their membership interest in the LLC, or even force the sale of the entire LLC, over the objections of one or more other members. Or not. At the crux of the debate in […]
PUBLIC NOTICE OF CHAPTER 7 AUCTION: OMC France
Chapter 7 Trustee Alex D. Moglia announces the auction of Outboard Marine Corporation’s 100% equity interest in OMC Outboard Marine France. Bid deadline August 30th.
PUBLIC NOTICE OF ARTICLE 9 SALE: Forte Automation Systems, Inc.
NOTICE OF PUBLIC SALE UNDER ARTICLE 9 OF THE UCC OF COLLATERAL INVOLVING FORTE AUTOMATION SYSTEMS, INC. 1. Executive Summary. This is a public notice regarding the public sale (the “Auction”) to the highest bidder of the collateral (the “Assets”) described in #6 below. The public sale will be held on July 31, 2019, 12:00 […]
PUBLIC NOTICE OF CHAPTER 11 AUCTION: American Home Products LLC
NOTICE OF BID PROCEDURES, AUCTION DATE AND SALE HEARING. PLEASE TAKE NOTICE THAT: 1. On May 29, 2019, American Home Products LLC (the “Debtor”) filed the Motion of Debtor for Entry of (I) an Order (A) Authorizing and Approving Bid Procedures in Connection with the Sale of Substantially All of the Debtor’s Assets; (B) Scheduling […]
90 Second Lesson: What is a “composition agreement?”
QUESTION: Jack B. wrote in the other day, asking us to explain what a composition agreement is. ANSWER: A composition agreement is a contract between a debtor and multiple creditors providing for the reduction or delay in payment of amounts owed by the debtor to the creditors entering into the composition. Entering into a […]
PUBLIC NOTICE OF CHAPTER 11 AUCTION: Empire Generating Co, LLC
NOTICE OF BID PROCEDURES, AUCTION DATE AND SALE HEARING. PLEASE TAKE NOTICE THAT: 1. On May 19, 2019, the above-captioned debtors and debtors in possession (the “Debtors”) filed the Debtors’ Motion for Entry of Orders (I)(A) Approving Bid Procedures Relating to the Sale of Substantially all the Assets of Empire Generating Co, LLC, or Interests […]
PUBLIC NOTICE OF CHAPTER 11 363 SALE: Substantially All Assets of Perfect Brow Art, Inc.
Perfect Brow Art, Inc and its affiliated entities (the “Company”), the largest eyebrow threading retailer in the United States, with 169 company-owned and franchised stores, $23.7 million in revenues and $2.7 million in Adjusted EBITDA (in 2018, adjusted for closed stores and non-recurring professional fees), is selling substantially all of its assets (the “Assets”) pursuant […]