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Receive this Newsletter 		January 28, 2020
 

Public Notice of Bankruptcy Auction

38.56 +/- Acres Directly on the Las Vegas Strip, across from the Mandalay Bay. Bid Deadline is April 30, 2020; auction is May 19, 2020. Stalking horse offers will be considered. Offer presented by Keen-Summit Capital Partners LLC and Colliers International. For more information, see the full public notice.
 

90 Second Lesson: What Is a “Professional Fee Carve-Out” in a Chapter 11 Case?

Chapter 11 is expensive, for many reasons, both in terms of soft costs (e.g. distracting from the running of the business) and in terms of hard costs (e.g. the fees that must be paid to debtor’s counsel and other professionals), as well as the fees of professionals hired by the other parties in a chapter 11. And, while it may be counterintuitive, a debtor typically has to pay for the professionals retained by the official committee of unsecured creditors. Because a debtor’s cash often is the collateral of a bank or other secured lender, the debtor’s ability to pay such professional fees is often subject to the secured lender’s senior rights to be paid. At the same time, however, most bankruptcy courts will not allow a debtor to continue in chapter 11 unless there is a means for such professionals to get paid. For these reasons, there is commonly a negotiated agreement among the secured lender and these professionals that helps ensure the professionals can be paid. Read more about all this in 90 Second Lesson: “What Is a Professional Fee Carve-Out” in a Chapter 11 Case?
 

No One is an Island

You may know something about bankruptcy. You may know a lot about bankruptcy. But bankruptcy doesn’t happen in a vacuum. Other areas of law impact nearly every business bankruptcy case. Labor/Employment, Tax, and Environmental issues, for example, can have a major effect on a case. Go get a quick overview of the intersection of bankruptcy and these and these other areas at Financial Poise Webinars’ Bankruptcy Intersections series. These webinars are designed for the business person and non-bankruptcy expert!
 

Doing Deals in Bankruptcy

Corporate transactions are fraught with complicated legal, business, and financial issues. And transactions in the context of a bankruptcy proceeding often adds a further layer of complexity. Attend the Financial Poise Webinars series, Bankruptcy Transactions to learn about:
  • Buying Assets from Bankrupt Companies
  • Bankruptcy Claims Trading
  • Negotiating and Drafting Cash Collateral/DIP Financing Orders
These webinars are designed for the business person and non-bankruptcy expert!
About the Opportunistic Deal Database
Vulture Investors Take Note:

Looking to buy companies out of bankruptcy? Assets of financially distressed companies in receivership, assignment or from lenders who have foreclosed on, and are selling, their collateral under Article 9 of the UCC? Search for excess assets resulting from plant closings? Targeting other sellers who need to sell urgently and other opportunistic/special situations?

Check out DailyDAC's Opportunistic Deal Database (ODD). The ODD culls such opportunities.

Subscribe here for access
The deals listed here were added to the ODD throughout the seven day period ending this past Sunday. The number in parentheses next to each deal is its unique ID number, included so our paid subscribers can easily find these deals on our website.

Secured Party Sales

  1. Provider of real-time, anonymized pedestrian & vehicle data - (20964)
  2. Furniture – Household – Outside Items - (20961)
  3. Commercial beverage/spirits license - (20962)
  4. Single story commercial building - (20960)
  5. Fine autographs and artifacts - (20963)

Private Company Sales

  1. Industrial & construction fasteners distributor - (20987)
  2. Industrial/custom-built manufacturing company - (20981)
  3. 28 Year Structural Steel for Construction - (20978)
  4. B2B Wholesale Distribution business - (20980)
  5. Industrial pressure washer business - (20986)

Assignment for the Benefit of Creditors Sales

  1. Consumer credit counseling business - (20954)
  2. Commercial brewery (w/equipment) - (20952)
  3. Distribution business - (20953)

Chapter 11 - 363 Sales

  1. Outdoor power equipment dealer - (21039)
  2. 38+ Acres on Las Vegas Strip - (20951)
  3. Event & recreation center - (21043)
  4. Banquet hall & lodge - (21045)
  5. Space tech company - (21041)

Chapter 11 - Investment Banker Application Filed

  1. Manufacturer of textile furnishing products - (20872)
  2. Veterinary services business - (20875)
  3. Business holdings company - (20876)

Chapter 11 - Case Filing Indicates Future Asset Sale

  1. Chain of accessory retail stores - (20901)
  2. Restaurant holding company - (20898)
  3. Franchised candy retailer - (20899)
  4. Healthcare organization - (20900)

Chapter 7 - Sale of Business Assets

  1. Shop equipment (multiple lots) - (21025)
  2. Commercial towing company - (21028)
  3. Packaging company - (21024)
  4. Concrete crusher - (21027)
  5. Fitness center - (21026)

Chapter 12 Bankruptcy

  1. No New Deals This Week
iGlobal Forum - Independent Sponsor Summit

Going Concern Opinions

  1. Clinical-stage biopharmaceutical company - (21010)
  2. Developer of diagnostic imaging devices - (21006)
  3. Transportation services business - (21002)
  4. Online cryptocurrency exchange - (21005)
  5. Natural gas liquids company - (21011)

Auctions

  1. Office supplies & industrial shelving - (21058)
  2. Industrial machinery & machine shop - (21053)
  3. Machine shop (w/equipment) - (21055)
  4. Tools, dies & fixtures - (21060)
  5. Industrial equipment - (21054)
  6. Country club - (21057)

Other Interesting Sales

  1. Oil & gas exploration company - (20486)
  2. Biopharmaceutical company - (20482)
  3. Ceramics proppant supplier - (20481)
  4. Financial services company - (20483)
  5. Medical device company - (20485)

Bulk Sales

  1. Catering business (w/equipment & fixtures) - (21019)
  2. Franchised greeting card/gift shop - (21021)
  3. Commercial car wash (w/equipment) - (21014)
  4. Home/accessories gift retailer - (21022)
  5. Commercial beverage license - (21023)

Receiverships

  1. International engineering services company - (20970)
  2. Vacant commercial land for development - (20974)
  3. Branded gas station & restaurant chain - (20972)
  4. 9.97 Acres of Industrial Land - (20968)
  5. Machine shop (w/equipment) - (20967)

Mass/Significant Layoffs

  1. Automotive manufacturing plant - (21047)
  2. Aluminum extrusion plant - (21051)
  3. Auto body parts supplier - (21048)
  4. Water vessel manufacturer - (21052)
  5. Steel foundry - (21049)

Plant/Facility Closings

  1. Testing services provider - vehicle manufacturing industry - (20990)
  2. Transportation & logistics services business - (20988)
  3. Industrial furniture manufacturer - (20999)
  4. Manufacturer of valve operators - (20989)
  5. Vehicle logistics business - (20991)
View All Deals on DailyDac.com


 
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