Asset Sales

Labor Issues in 363 Sales: Things You Need to Know

Resolved: Unsecured creditors entitled to post-petition interest can only be paid at the federal judgment rate. Pro: Rachel C. Strickland Willkie Farr & Gallagher LLP; New York Con: Joseph H. Smolinsky Weil, Gotshal & Manges LLP; New York Resolved: Actual fraud under § 523(a)(2)(A) is limited to misrepresentation. Pro: G. Eric Brunstad, Dechert LLP; Hartford, Conn. Con: Danielle Spinelli . WilmerHale; Washington, D.C. Resolved: Negative-notice procedure is sufficient to establish consent under § 363(f). Pro: Hon. Thomas J. Catliota U.S. Bankruptcy Court (D. Md.); Greenbelt Con: Hon. Martin R. Barash U.S. Bankruptcy Court (C.D. Cal.); Woodland Hills

This panel will discuss the rationale and practical consequences of the nuanced approach to the often difficult concept of valuation in Chapter 11 taken by the ABI Chapter 11 Commission’s recommendations.

This panel will discuss “found money assets” — unusual or unknown assets that can be liquidated for the benefit of the estate, including commercial tort litigation/class action participation and unclaimed funds. The panel will also discuss the pros and cons of sales of remnant assets such as aged and written-off A/R, small balance and default judgments from preference claims, trade claims held by the estate, and litigation rights.

This panel will discuss current hot topics in bankruptcy cases, including bankruptcy law developments in entertainment cases, nonprofit education cases, municipalities and other chapter 9 cases, and many more.

"This panel will explore the requirements for the use of cash collateral by agreement or court order, including adequate protection. The discussion will include other important issues for secured creditors, such as debtor-in-possession financing, collateral carve-outs to pay committee professionals, cramdown interest rates, and credit bidding in sales of collateral. "

Selling Unusual Assets in Bankruptcy and their Tax Aspects (Pot, Porn and Puppies)

When is the sale over (Revel), when can I credit bid (Fisker), and what is the right price (MPM) ? These and other 363 topics will be addressed during this session.

Even though the Commission recommended no curtailing of credit-bidding rights, challenges continue. More on GM: Can an order really be free and clear of successor liability, and what is successor liability, anyway?