asset purchase

Amendments To The Federal Bankruptcy Rules, Plus A New “Free And Clear” Sale Motion Filing Fee, To Take Effect December 1, 2013

Bob Eisenbach — Tue, 19 Nov 2013 16:45:00 +0000

Almost every year, changes are made to the set of rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. Rule Amendments. This year the rule amendments mainly affect bankruptcy cases filed by individuals. There are also some…

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DIP Financing: How Chapter 11’s Bankruptcy Loan Rules Can Be Used To Help A Business Access Liquidity

Bob Eisenbach — Tue, 05 Nov 2013 16:30:25 +0000

Cash Is King. An army may march on its stomach, but for companies, it’s liquidity that keeps the business going. For many companies, typical sources of liquidity, beyond cash flow from sales or other revenue, are (1) financing from banks or other secured lenders, (2) credit from vendors that can reduce immediate liquidity needs, and (3) when needed, loans from owners, investors, or other insiders.

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Spring 2013 Edition Of Bankruptcy Resource Now Available

Bob Eisenbach — Thu, 11 Apr 2013 15:43:45 +0000

The Spring 2013 edition of the Absolute Priority newsletter, published by the Bankruptcy & Restructuring group at Cooley LLP, of which I am a member, has now been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the links in this sentence to access a copy of the newsletter. You can also subscribe to the blog to learn when future…

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Seventh Circuit Decision Gives Support To Protecting Buyers In Bankruptcy Sales From Successor Liability

Bob Eisenbach — Tue, 02 Apr 2013 13:44:17 +0000

Last week, the U.S. Court of Appeals for the Seventh Circuit addressed whether a buyer of assets outside of bankruptcy (in this case, from a receivership), takes on successor liability for federal Fair Labor Standards Act ("FLSA") claims made by the employees of the company whose assets it purchases. Although the case arose in a receivership, the Seventh Circuit’s opinion provides important…

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Using Chapter 11 Bankruptcy’s Sale Process To Achieve An Exceptional Sale Price

Bob Eisenbach — Mon, 11 Mar 2013 11:56:36 +0000

A Difficult Problem. Imagine that your company is facing a government investigation, requiring you to spend hundreds of thousands of dollars in legal fees and costs, while being threatened with substantially more legal expense. That financial burden is simultaneously starving the company of cash needed to grow the business, and cash balances are heading toward zero. Worse yet, the cloud over the…

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Supreme Court Bids Adieu To Plans Denying Secured Creditors The Right To Credit Bid

Bob Eisenbach — Thu, 31 May 2012 11:24:43 +0000

On May 29, 2012, only a little more than a month after the April 23, 2012 oral argument in the case, the U.S. Supreme Court issued its decision in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank on the question of "credit bidding." You can get a copy of the opinion by following the link in this sentence. (You are also welcome to follow my Twitter feed @BobEisenbach for updates…

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Winter 2012 Edition Of Bankruptcy Resource Now Available

Bob Eisenbach — Mon, 13 Feb 2012 13:42:21 +0000

The Winter 2012 edition of the Absolute Priority newsletter, published by the Bankruptcy & Restructuring group at Cooley LLP, of which I am a member, has recently been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the links in this sentence to access a copy of the newsletter. You can also subscribe to the blog to learn when…

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Fall 2009 Edition Of Absolute Priority Now Available

Bob Eisenbach — Mon, 21 Sep 2009 01:30:54 +0000

The Fall 2009 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the links in this sentence to access a copy of the newsletter or to register to receive future editions.

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Section 363 Sales And Beyond: An M&A Lawyer’s Perspective On Purchasing Assets From Distressed Companies

Bob Eisenbach — Mon, 22 Jun 2009 03:40:10 +0000

With the economy suffering through the longest recession since the 1930s, it’s little wonder that much of the merger and acquisition ("M&A") activity these days has been focused on distressed companies. The Chrysler and General Motors cases may be the best-known examples, but Chapter 11 bankruptcy is frequently used by companies large and small to sell assets through Section 363 sales.

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Fall 2008 Edition Of Bankruptcy Resource Is Now Available

Bob Eisenbach — Sun, 02 Nov 2008 22:18:27 +0000

The Fall 2008 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the links in this sentence to access a copy of the newsletter or to register to receive future editions.

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