363 Asset Sales: Recent Decision Says “It ain’t over ‘til it’s over”
Outside of bankruptcy, an auction typically ends when the seller determines it has received the highest and/or best offer and declares a winning bidder. A recent decision by the United States...
View Article363 Asset Sales: Delaware Bankruptcy Court Agrees That “It ain’t over ’til...
Earlier this week, in a post on the Western Biomass decision, we noted that a fundamental tension underlies bankruptcy auctions as the estate’s interest in obtaining the highest and/or best offer often...
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The Results Are In: Readers Split, But Advantage Process!
Last month, we asked our readers what they thought a bankruptcy court should do when presented with a post-auction bid in a materially higher amount after the conclusion of an auction that had been...
View ArticleValuing Secured Claims: The Importance of Credible Testimony and Postpetition...
Last month, the United States Bankruptcy Court for the Northern District of Iowa in In re Civic Partners Sioux City, LLC denied confirmation of a chapter 11 debtor’s plan of reorganization, in part,...
View ArticleCramdown Matrix Update: The Well-Adjusted Interest Rate
As part of our ongoing project to monitor and report on cramdown interest rate cases, today’s post covers the recent opinion in In re Robert S. Turner, in which the United States Bankruptcy Court for...
View ArticlePeanut Butter Maker Takes More Bread in 363 Sale, Leaves Winning Bidder in a Jam
As we have noted in number of previous posts, auctions under section 363(b) of the Bankruptcy Code end with the bankruptcy judge’s gavel, not the auctioneer’s. To the dismay of many readers, the delay...
View ArticleDelaware Bankruptcy Court Allows Debtor to Drop Lease Settlement for Higher...
We have written, at some length (see posts on September 9, 2013, September 13, 2013, March 14, 2014, and April 11, 2014), about the competing interests involved in higher post-auction bids. The United...
View ArticleGenco: Dry Bulk Shipping Valuations No Longer Anchored to Discounted Cash...
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bankruptcy courts to determine the enterprise value of a distressed business....
View ArticleGenco: Future Earnings? That Was Then; This Is Now
Bankruptcy courts typically rely on three valuation methods to determine a debtor’s enterprise value: comparable company analysis, precedent transaction analysis, and discounted cash flow analysis. As...
View ArticleCaveat Debtor: Liens Preserved Pursuant to Section 551 Subject to Defects...
Last month, the United States District Court for the Eastern District of North Carolina affirmed the decision in Skumpija v. Warren (In re Skumpija), in which the Bankruptcy Court for the Eastern...
View ArticleSlouching Towards Bankruptcy: Corporate Fiduciaries Escape Liability in...
As a company turns in the widening gyre of financial distress, its directors and officers are often confronted with situations that require them to make difficult decisions. Should things fall apart,...
View ArticleBe Careful What You Draft for: Delaware Chancery Court Blesses Dynegy’s...
The Delaware Chancery Court’s recent decision in Roseton OL, LLC v. Dynegy Holdings, Inc. highlights the importance of good drafting in corporate documents, this time in the context of guaranties. The...
View ArticleSection 109(c) – Filing for Chapter 9
This installment of “Breaking the Code” will dissect section 109(c) of the Bankruptcy Code, which establishes who may commence a proceeding under chapter 9. As countless public entities edge closer to...
View ArticleSection 1144 – Revoking a Confirmation Order
Our latest installment of “Breaking the Code” examines section 1144 of the Bankruptcy Code, which governs the revocation of an order confirming a chapter 11 plan of reorganization. Section 1144...
View Article363 Asset Sales: Recent Decision Says “It ain’t over ‘til it’s over”
Outside of bankruptcy, an auction typically ends when the seller determines it has received the highest and/or best offer and declares a winning bidder. A recent decision by the United States...
View ArticleABI Chapter 11 Reform Commission Series: Postpetition Financing I
This installment of the Weil Bankruptcy Blog’s series on the ABI Commission Report is the first of two posts that address the Commission’s recommendations relating to postpetition financing. This...
View ArticleABI Chapter 11 Reform Commission Series: Postpetition Financing II
This installment of the Weil Bankruptcy Blog’s series on the ABI Commission Report is the second of two posts that address the Commission’s recommendations relating to postpetition financing. This...
View ArticleBankruptcy Court Denies Debtor’s Request to Pay Estate Professionals with...
Undersecured creditors may breathe a little easier. In a recent decision, the United States Bankruptcy Court for the Northern District of Illinois denied the debtors’ request to use an undersecured...
View Article11th Circuit Confirms Position That Non-Consensual, Third-Party Releases Are...
In a recent decision, the United States Court of Appeals for the Eleventh Circuit confirmed its previous adoption of the “majority view” that non-consensual, third-party releases are permissible under...
View ArticleEverything Has Its Own Value: 7th Circuit Holds That Forbearances by a Lender...
The United States Court of Appeals for the Seventh Circuit recently held that numerous forbearances by a lender that allowed a single asset real estate borrower to stave off bankruptcy for four years...
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