Creating Value Through Bankruptcy: Selling and Financing a Distressed Business in Bankruptcy

  • Organizer: Anderson Kill
  • Location: The Union League, 140 S. Broad Street, Philadelphia, PA
  • Date: June 4, 2015
  • Time: 02:30 PM-06:30 PM
  • Frank G. Murphy
  • Shareholder
  • Anderson Kill
  • Dennis J. Nolan
  • Shareholder
  • Anderson Kill
  • Howard Brod Brownstein, CTP
  • Brownstein Corp.

During this seminar our panelists will be discussing the following topics:

Selling a Distressed Business Pursuant to Section 363

  • When is a Section 363 sale the best route
  • Authorization for a Free and Clear Sale under Section 363(f)
  • Public Auction vs. Private Sale
  • Rights of Interest Holders to Adequate Protection
  • Successor Liability Issues in Section 363 sales
  • Using the Right Professionals
  • Timing and Procedures
  • Credit bidding under Section 363(k)

Selling a Distressed Business Pursuant to a Chapter 11 Plan

  • When a sale pursuant to a plan is preferred to a Section 363 sale
  • Compliance with plan confirmation, including approval of disclosure statement, is required
  • Credit bidding in Chapter 11 auctions – U.S. Supreme Court’s decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank
  • “Cramdown” plans
  • Transfer or stamp tax exemption under Section 1146(a) in post-confirmation transfers – major advantage for selling real estate assets under a plan

Debtor-In-Possession Financing (DIP) under Section 364

  • Uses of DIP financing to preserve value of the estate
  • Priming Liens under Section 364(d)
  • Adequate protection of secured prepetition liens
  • Procedures for approval of DIP financing
  • Creative use of DIP financing by pre-petition lenders
  • When are “roll-ups” permissible?

Registration: 2:30 PM to 3:00 PM

Seminar: 3:00 PM to 5:00 PM

Networking Cocktail Reception: 5:00 PM TO 6:30 PM

Cost: Complimentary with RSVP

CLE Approved:

NY CLE: 2.0 credits

PA CLE: 2.0 credits

NJ CLE: 2.4 credits presumptively approved

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