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Article 9 Sale of 100% LLC interest in the owner of 225 E. Deerpath, Lake Forest, IL 60045, a/k/a “Deerpath Plaza” will be held on November 17th; any interested bidder must become a qualified bidder prior to sale. Auctioneer is Mannion Auctions.
More information on DailyDAC
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Claims trading, simply put, is the purchase and sale of claims held by creditors against debtors in a bankruptcy proceeding. This includes claims for goods sold, services rendered, or damages asserted by contract counterparties such as landlords or professional service providers. Terminated financial contracts (e.g., ISDA agreements) form the basis for another frequently traded type of claim in past years. Learn more in An Introduction to Bankruptcy Claims Trading by Timothy C. Bennett.
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Knowing how to read a balance sheet can help an investor or lender understand a business. However, a balance sheet should neither stand alone nor be taken at face value. Diligence about categories on the balance sheet is critical not only to discover issues but also to gaining comfort with the way the business has operated. Looking for what is not obvious will yield a different—and far superior—understanding of information that appears to be straightforward. Better to learn at the front end what can be known and, if necessary, find a new transaction, than to reap disappointment on the back end. Beneath the surface of balance sheet assets, liabilities, and equity lies information essential to better grasp the nuances of the business. Learn more in David Gottlieb’s and Michael Schwarzmann’s Finding Truth in a Debtor’s Balance Sheet: Analyzing Assets, Liabilities, and Equity.
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In bankruptcy, an oversecured creditor (in which the value of its collateral is higher than its claim) is first in line to be paid. Unfortunately, oversecured creditors are also entitled to post-petition interest (interest that accrues or would accrue after the start of bankruptcy proceedings, regardless of whether or not it is allowed in the proceeding). As a debtor who successfully increases the value of the asset/collateral—how do you alleviate an increased claim and maintain liquidity? And what say does the secured creditor have in how the interest rate is calculated? Read Lender vs Debtor on the Payment of Post-Petition Interest by Christopher Cahill to learn how the First Circuit in In re SW Boston Hotel Venture, LLC approved of the bankruptcy court’s adoption of a “flexible” approach as to when a secured creditor became oversecured, by contrast to the “single valuation” approach used by other courts.
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Latest Deals Added to the Opportunistic Deal Database
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The deals listed here were added to the ODD throughout the seven-day period ending this past Friday. The number in parentheses next to each deal is its unique ID number, included so you can easily find these deals on our website by searching for this number.
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Article 9/Secured Party Sales
- Portfolio & promotional graphics company - (30790)
- 30 acre development site - (30791)
- 0.07+/- Acre Lot - (30797)
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Private Company Sales
- Electrical contracting business - (30830)
- Full-service restaurant - (30828)
- Real estate brokerage - (30827)
- Interior design firm - (30829)
- HVAC company - (30823)
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Chapter 11 - 363 Sales
- 139.8 Acre Operating Aggregate Quarry - (30792)
- Organic food and feed supplier - (30795)
- Three office buildings - (30793)
- 1,000 acre ranch - (30794)
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Chapter 11 - Investment Banker Application Filed
- No new deals added this week
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Chapter 11 - Case Filing Indicates Future Asset Sale
- No new deals added this week
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Chapter 7 - Sale of Business Assets
- No new deals added this week
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Chapter 12 Bankruptcy
- No new deals added this week.
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Receiverships
- Multifamily property - 7,524 sq. ft. - (30783)
- Shopping mall - 980,041 sq. ft. - (30784)
- Shopping mall - 777,000 sq. ft. - (30786)
- Land - 2,753 sq. ft. - (30785)
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Assignment for the Benefit of Creditors Sales
- Aluminum scrap supplier - (30788)
- Real estate developer - (30789)
- Construction company - (30787)
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Plant/Facility Closings
- Manufacturer of protective packaging systems - (30814)
- Sanitation products distributor - (30810)
- Cable assembly manufacturer - (30813)
- Paint coatings supplier - (30811)
- Liquid safety company - (30812)
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Rating Agency Alerts/Other Signs of Distress
- Environmental services company - (30815)
- Product licensing agency - (30822)
- Aircraft leasing company - (30820)
- Online travel agency - (30819)
- Developer of mines - (30821)
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Auctions/Other Interesting Sales
- Recreational land - 37 parcels - (30912)
- Development land - 382 acres - (30911)
- Irrigated farm - 1,112 acres - (30910)
- Winery brand w/vineyard - (30909)
- Farmland - 133 acres - (30913)
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Bulk Sales
- Olive oil producer - (30799)
- Commercial bakery - (30800)
- Massage therapist - (30802)
- Tobacco Shop - (30798)
- Pub/brewery - (30801)
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Mass/Significant Layoffs
- Detention management company - (30805)
- Real estate investment trust - (30804)
- Roller chain manufacturer - (30806)
- Army installation - (30808)
- Airline caterer - (30807)
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