September 8, 2020
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How Undersecured Creditors Can Obtain a Higher Payout with a Section 1111(b)(2) Election

A chapter 11 plan cramdown can put an undersecured creditor at risk of undervaluation. A section 1111(b)(2) election, however, allows such undersecured creditor to waive its deficiency claim and have the total allowed amount of its claim be treated as though it were fully secured by the collateral. Learn more about this creditor countermeasure in “The Secured Creditor’s Counter Strike – Section 1111(b) Election.”
 

So, You Want to Buy a Distressed Business?

There are important differences between buying a profitable and solvent business compared to buying a financially distressed one. If you are anticipating opportunities to buy distressed businesses then you may want to read
“90 Second Lesson: First Step Before Buying a Distressed Business.”
 

Sacrificed on the Altar of Emergency

Before DailyDAC, bankruptcy sales were generally only advertised in local newspapers, resulting in far less recovery for creditors. In commemoration of those dark days, which are thankfully behind us, we present a classic newspaper advertisement:
Source: (1869, March 4) Yorkville Enquirer. Retrieved from the Library of Congress,
https://www.loc.gov/item/sn84026925/1869-03-04/ed-1/.

Thanks to Molly Froschauer of Sherwood Partners for providing the inspiration and means for this blast from the past.

For information on providing effective public notice of your sale, check out DailyDAC's Premium Public Notice Service.
Latest Deals Added to the Opportunistic Deal Database
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. Commercial/restaurant beverage license - (24913)
  2. Industrial vehicles - Multiple lots - (24912)
  3. Interior design supplier - (24914)

Private Company Sales

  1. Specialized product manufacturer (w/real estate) - (24919)
  2. Manufacturer of farm implementation products - (24916)
  3. Private label chemical manufacturer - (24917)
  4. 45 year old food manufacturing co. - (24915)
  5. Niche industrial manufacturer - (24918)

Assignment for the Benefit of Creditors Sales

  1. Regulatory marketing platform - cannabis industry - (24843)
  2. Building & highway restoration company - (24842)
  3. Passenger shipping company - (24841)
  4. Cooking camp - (24844)

Chapter 11 - 363 Sales

  1. Restaurant holding company (w/beverage license) - (24867)
  2. Cannabis accessories & engraving shop - (24869)
  3. Land - 10 acres undeveloped acres - (24871)
  4. Rock drilling & blasting company - (24870)
  5. Land - 2.3 Acre Tract - (24872)

Chapter 11 - Investment Banker Application Filed

  1. Oil & natural gas services provider - (24873)
  2. Automotive components manufacturer - (24876)
  3. Oil & natural gas company - (24874)
  4. Catalog printing business - (24875)

Chapter 11 - Case Filing Indicates Future Asset Sale

  1. Automotive supplier & defense contractor - (24879)
  2. Family style restaurant chain - (24882)
  3. Artisanal donut franchise - (24878)
  4. Chain of grocery stores - (24881)

Chapter 7 - Sale of Business Assets

  1. Industrial & transportation vehicles - (24864)
  2. Three real estate properties - (24853)
  3. Party retailer (w/inventory) - (24854)
  4. Undeveloped land - 16 acres - (24865)
  5. Firearms & ammunition - (24852)

Chapter 12 Bankruptcy

  1. Real estate - 3,044 sq. ft. - (24885)
  2. Farmland & equipment - (24883)
  3. High-end/luxury hotel - (24890)

Rating Agency Alerts/Other Signs of Distress

  1. Manufacturer of hand & power tools - (24907)
  2. Cinema & movie theater franchise - (24911)
  3. 227 casual dining restaurants - (24908)
  4. Outdoor advertising company - (24910)
  5. Payroll processing company - (24909)

Auctions

  1. Machining & grinding facility (w/equipment) - (24839)
  2. Vintage advertising & industrial equipment - (24829)
  3. 30,000 sq.ft. Office/Multi-use building - (24832)
  4. Tractor's & equipment - Multiple lots - (24840)
  5. Industrial equipment - Multiple lots - (24830)

Other Interesting Sales

  1. Non-operated working interest package - 1,844 wells - (24920)
  2. Non Operated Working Interest package - 3 oil wells - (24921)
  3. Overriding royalty interest package - 640 acres - (24924)
  4. Non-Operated Working Interest - 4 DUC’s - (24922)

Bulk Sales

  1. Commercial beverage/spirit's license - (24845)
  2. Beverage & spirit's retailer - (24847)
  3. Retailer of beauty products - (24849)
  4. Fishing/bait retailer - (24848)
  5. Packaging company - (24846)

Receiverships

  1. Electrical utility services provider - (24906)
  2. O.E.M. manufacturing facility - (24904)
  3. Industrial printing business - (24905)
  4. Hotel, lounge & restaurant - (24900)
  5. Drilling company - (24902)

Mass/Significant Layoffs

  1. On-site restaurant company - (24888)
  2. Commercial screen printer - (24889)
  3. Metal service center - (24892)
  4. Full-service hotel - (24891)

Plant/Facility Closings

  1. Medical instrument manufacturer - (24896)
  2. Heating Equipment Manufacturer - (24895)
  3. Telecommunications company - (24894)
  4. Metal die casting foundry - (24897)
  5. Sheet metal manufacturer - (24893)
View All Deals on DailyDac.com
 
DailyDAC, LLC
1954 First Street, Suite 178
Highland Park, IL 60035
847-463-9530
[email protected]