Asset Sales

As with many bankruptcy strategies, § 363 sales do not always proceed as smooth as initially planned. Your stalking horse may be outbid by a higher OR better offer, insider sales can be challenged and denied by the court, and sensitive information or IP rights might not be easily transferrable. This panel will discuss how creative bankruptcy strategies resulted in overcoming substantial challenges and ultimately led to successful outcomes in such cases as 23andMe, Genesis Healthcare, The Nicklaus Companies and Hawthorne Race Course.Learning ObjectivesAttendees will analyze common challenges that arise in Section 363 bankruptcy sales, including bidding disputes, insider transactions, and court scrutiny of sale processes.Attendees will evaluate how courts address issues involving stalking horse bids, competing higher or better offers, and objections to proposed sales.Attendees will assess how creative deal structures and strategic problem-solving can overcome obstacles involving intellectual property, sensitive information, and complex asset transfers in bankruptcy cases.

This panel will explore key bankruptcy litigation issues that are currently the subject of significant interest and debate, including recent challenges arising from liability-management exercises (LMEs) such as minority lender objections, the extent to which LMEs may insulate secured claims from challenge in subsequent bankruptcy cases, and their interplay with DIP financings and roll-ups. The panelists also will discuss venue disputes, recent adequate protection and priming fights, and developments in post-confirmation litigation trusts. In addition, the panelists will address the increasing use of artificial intelligence in bankruptcy litigation and restructuring practice in general, with a focus on how practitioners can leverage AI to enhance their work.Learning ObjectivesAttendees will identify and analyze current bankruptcy litigation issues arising from liability management exercises (LMEs), including minority lender challenges and the implications for lien rights and DIP financing structures.Attendees will evaluate key trends in bankruptcy litigation, including venue disputes, adequate protection and priming contests, and emerging developments in post-confirmation litigation trusts.Attendees will assess the expanding role of artificial intelligence in bankruptcy litigation, including its application to legal analysis, case strategy, and decision-making.

Moderated by ABI’s Bill Rochelle, seven bankruptcy judges from New York, Delaware, Houston and New Jersey will predict how the Supreme Court is likely to rule on the most controversial issues in reorganization, Subchapter V and Chapter 13.Learning ObjectivesAttendees will gain insight into how bankruptcy judges view emerging and contentious issues in reorganization cases, Subchapter V, and Chapter 13.Attendees will explore judicial perspectives on how the Supreme Court may approach unresolved or split issues in bankruptcy practice.Attendees will examine practical implications of differing judicial interpretations for debtors, creditors, and case strategy.

This panel will explore strategies and pitfalls in distressed lease and asset sales, both in and out of court. Panelists will address key issues in negotiating lease workouts and structuring asset sales, highlighting how tactics shift depending on asset class. Discussion will cover recent trends, including repeat bankruptcies and the rise of lease-only and stand-alone asset sales, with practical insights for stakeholders navigating today’s restructuring challenges.Learning Objectives:Attendees will learn to:Draft and negotiate lease workout agreements and structure asset sales in both in-court and out-of-court distressed scenarios.Distinguish between tactical approaches for different asset classes and identify common pitfalls in distressed lease and asset sale transactions.Analyze emerging trends, including repeat bankruptcy filings, lease-only sales, and stand-alone asset dispositions, to develop effective stakeholder strategies.

This session will focus on the unique challenges presented by distressed private investment funds, with an emphasis on identifying fraud risk and managing funds approaching the end of their lifecycle. The panelists will discuss common fraud red flags encountered in distressed fund scenarios and the practical steps professionals can take to investigate, mitigate and respond to those risks. The panel also will explore strategies for handling “end of life” funds, including wind-down considerations, stakeholder communications and regulatory issues. Particular attention will be paid to Cayman Islands’ segregated portfolio company (SPC) structures, highlighting structural complexities and best practices for insolvency, restructuring and recovery efforts.

In 2024 alone, more than 517,000 bankruptcy cases were filed in the U.S., and bankruptcy judges issued an estimated 521 reported decisions, plus another 1,241 unreported decisions. How many of those cases and issues are you familiar with? You might know what the Supreme Court did in Purdue Pharma, what the Third Circuit did in Boy Scouts, what the Fourth Circuit did in Bestwall, and what bankruptcy courts are doing in cases like Red River Talc, Celsius and FTX, but do you know the latest trends in equitable tolling, chapter 5 avoidance claims and conversion rights? Bill Rochelle and this panel of esteemed bankruptcy judges will be holding a lively discussion of a few critical-but-under-the-radar decisions that you should be reading about but likely are not. You won’t want to miss this educational and eye-opening conversation!

Hosted by the Business Reorganization and Asset Sales Committees. This panel will examine the strategic use of LMEs in the context of asset sales within restructuring frameworks, such as the role of LMEs in facilitating sales, structuring them as conditions to closing, funding LMEs through sale proceeds, or utilizing asset sales as an exit strategy from LMEs or restructuring plans. The panelists will share their insights on the current trends and practical considerations that are shaping these increasingly sophisticated transactions.

As data privacy concerns grow more urgent, bankruptcy professionals must be prepared to confront the unique challenges that arise when companies holding sensitive consumer data (like genetic information) enter financial distress. This panel will use the high-profile case of 23andMe as a launching point to explore the intersection of data privacy laws and bankruptcy practice. The panelists then will examine the heightened risks and responsibilities for debtors, creditors and trustees handling data-heavy assets in restructuring and liquidation scenarios. 

Join us for the first session of a three-part webinar series, hosted by ABI Capital Partner SC&H Capital. This first session will discuss the sales of private credit lender collateral, as well as capture key considerations in mergers and acquisitions in the current and near-term markets. With a focus on the use of private credit and traditional and alternative financing vehicles, industry leaders will discuss how the strategies for and structures of merger-and-acquisition transactions have changed, and what is expected in the current, future and volatile markets. The third session, taking place in November, will address how officers and directors must focus on complex issues and elevated responsibilities in the context of these types of transactions. Attendees will gain valuable insights — from investment bankers, attorneys and financial advisors who are on the front lines of these kinds of transactions — that will inform them now and in the future.

This session will cover recent Supreme Court and Sixth, Seventh and Eighth Circuit cases that you need to know about.