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90 Second Lesson: Selling Collateral in a 363 Sale vs. Article 9 Sale
Why would a secured creditor prefer to sell its collateral outside of bankruptcy? Here’s how time, money, and control differ in a 363 sale vs Article 9 sale.
Dealing with Corporate Distress 19: Buying & Selling Distressed Businesses in Bankruptcy: An Overview of Bankruptcy Code § 363
A distressed business has a multitude of options to explore. Understand how Bankruptcy Code Section 363 works during a business bankruptcy.
90 Second Lesson: First Step Before Buying a Distressed Business
Ordinary asset purchase? Article 9 sale? Bankruptcy acquisition? When buying a distressed business, the type of purchase should be top of mind.
90 Second Lesson: Why Would a Debtor Choose to Liquidate Under Chapter 11?
There may be many business reasons and benefits for a debtor who chooses to liquidate under Chapter 11 rather than Chapter 7.
Not Necessarily Free and Clear: Purchasing Real Estate Property in a Section 363 Sale
Just Because a 363 Sale Says Free and Clear, Does Not Mean It’s True A bankruptcy debtor is offering commercial property in a section 363 sale. It is an attractive property and Lou is considering purchasing it. Lou has heard that a section 363(b) sale “cleans” the assets of all liens, claims, and encumbrances. However, […]
90 Second Lesson: Stalking Horse Bid, Yay or Neigh?
The Pros and Cons of a Stalking Horse Bid Question: Why Be A Stalking Horse Bidder? A stalking horse bid is an initial bid on a distressed company’s assets made by an interested party that the bankrupt company (debtor) chooses to participate in a 363 sale. The stalking horse bidder agrees to purchase the specific […]
How to Protect Your IP Rights When Your Licensor Files for Bankruptcy
What Companies Can Do to Protect Their IP Rights in Bankruptcy The Kodak case brought into sharp focus the treatment of intellectual property rights in bankruptcy. Inventor of the roll-film hand camera in 1888 and maker of the first digital camera, the iconic company licensed thousands of patents in its extensive patent portfolio, estimated at […]
90 Second Lesson: The (Arguable) Right to Credit Bid in Plan Sales
Understanding the Right to Credit Bid After Radlax [Editor’s Note: this is part of our irregular series in which we answer readers’ questions. If you have a question, submit it to [email protected] and we will try to answer it.] Question A private equity investor wrote in recently asking us to address credit bidding in the […]
Dealing with Corporate Distress 06: Four Basic Chapter 11 Concepts to Know Before We Go any Further
The ABCs of ABCs, Business Bankruptcy, & Corporate Restructuring/Insolvency In the last two installments of this series, we introduced you to things a company should consider before deciding whether to file chapter 11, and a timeline for understanding how a “typical” chapter 11 case proceeds. In this quick little ditty, we want to make sure […]
From Penthouse to Ground Floor: The Penthouse Magazine Bankruptcy
Creative Destruction and an Inevitable Fall: What Can We Learn From the Penthouse Magazine Bankruptcy? Penthouse International, publisher of Penthouse Magazine, sold for $11.2 million in June of 2018. The company was worth about $700 million (adjusted for inflation) at its height. The latest Penthouse Magazine bankruptcy highlights just how far Penthouse has fallen, and […]