Asset Sales

"Hosted by the Asset Sales and Bankruptcy Litigation Committees This panel will discuss the most cautionary of tales in the asset sales realm, most notably Neiman Marcus (collusion), and regulatory and ownership issues that arise in asset sales that can lead to litigation.

Three cases in the last year have demonstrated that § 363 does not fix everything. In Dean Foods, § 363 did not protect the purchaser from the Sherman Antitrust Act; the purchaser was forced to divest itself of purchased assets in a U.S. DOJ antitrust action. In GNC, CFIUS interposed (unsuccessfully) to try to prevent the sale of assets to a Chinese company owned by the PRC government. Finally, in Exide, CERCLA rendered four contaminated properties unsalable, resulting in abandonment (arguably in contravention of the SCOTUS Midlantic decision, appeal pending). This panel will discuss these issues and more.

The panelists will continue the conversation on confirmation by examining judicial vs. market valuation, valuation in light of Speedcast Int’l., equitable mootness, exclusivity termination, and the latest developments in § 363 sales.

This panel will discuss the impact of the Consolidated Appropriations Act of 2021 on bankruptcy cases, the latest automatic stay cases, employment of professionals and fee applications, and § 363 sales in the Zoom era.

Are there limits to “free and clear” (GM)? This panel will discuss sales free and clear of leasehold interests, restrictive covenants and override royalties; conflicts between §§ 365 and 363(f) (lease- or license-stripping); assets free and clear of successorship in CBAs; selling free and clear of environmental liabilities (La Paloma, Exide); loan-to-own strategies; and the treatment of breakup fees (C&K Market, EFH).

This past year has seen a remarkable number of wide splits and controversial opinions. This panel of experts, moderated by ABI Editor-at-Large Bill Rochelle, will discuss and analyze current notable business and consumer bankruptcy cases.

In this virtual variation on the in-person format, a nationwide group of distinguished judges will discuss current bankruptcy and practical skills issues in an innovative Zoom-style presentation. The judges will rotate to a new online “room,” allowing participants to maximize their time and gain valuable insights into best practices.

Sponsored by the ABI's Asset Sales and Ethics and Professional Compensation Committees This webinar will discuss ethical issues professionals may face in asset sales and weave in some real life stories from previous deals our panelists have been involved with. Topics to be addressed include collusion, confidentiality, and fiduciary responsibility.

Panel presented by the International Women's Insolvency & Restructuring Confederation (IWIRC) Panelists from IWIRC's Latin America network will explore the tools available and strategies for recovering assets in cross-border insolvencies from a Latin American perspective.

Presented by the Emerging Industries and Technology & Secured Credit Committees This panel explores and navigates distressed-investing issues relating to sales of technology and IP under § 363, and buyer identification in a virtual landscape.