Statute
Section 363
24 published works
In Solvency
Magic Brands, Owner of Fuddruckers and Koo Koo Roo, Files for Bankruptcy
By Fox Rothschild LLP, Fox Rothschild LLP
Introduction Magic Brands, LLC, the owner of food chains "Fuddruckers" and "Koo Koo Roo," filed for bankruptcy in Delaware on April 21, 2010. The company filed a chapter 11 petition…
Finance & Bankruptcy Law Blog
One’s Crisis is Another’s Opportunity: Section 363 Sales
With the increasing numbers of companies which were once thought to be giants of industry filing for bankruptcy, more opportunities to purchase major assets are becoming available to savvy buyers…
Bankruptcy & Restructuring Law
Third Circuit Clarifies Standard For Allowance of Break-Up Fees in Section 363 Sales
In a recent decision, the United States Court of Appeals for the Third Circuit further defined its standard for awarding a break-up fee to an unsuccessful “stalking horse” bidder for…
In Solvency
Manufactured Homebuilder, Champion Enterprises, Files for Bankruptcy Hoping to Find Buyer
By Fox Rothschild LLP, Fox Rothschild LLP
Introduction On November 15, 2009, Champion Enterprises filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware. According to Champion's Declaration in Support of First Day…
In Solvency
Metal Manufacturer, Barzel Industries, Files Bankruptcy Seeking To Sell Majority of Assets
By Fox Rothschild LLP, Fox Rothschild LLP
Introduction Barzel Industries, the Massachusetts-based metal manufacturer, filed for bankruptcy on September 14, 2009, in the United States Bankruptcy Court for the District of Delaware. One of the initial documents…
In The (Red)®
Section 363 Sales And Beyond: An M&A Lawyer’s Perspective On Purchasing Assets From Distressed Companies
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…
Bankruptcy Litigation Blog 2.0
Objecting to the GM 363 Sale’s Treatment of Product Liability Claims: Stepping Into The Fray
[7/6/09 Update: The Bankruptcy Court entered this opinion and order approving the sale late last night. I filed this notice of appeal.] [7/8/09 Update: Here's my post on boarding the…
Bankruptcy Litigation Blog 2.0
Chrysler’s Bankruptcy Sale Opinion – Part I: Proving “What Goes Around, Comes Around”
[6/9/09 Update: See Part II of my analysis of Judge Gonzalez's sale opinion here.] Well it's official, and really no surprise: Judge Gonzalez in this opinion (WL) approved the sale of…
Bankruptcy Litigation Blog 2.0
Chrysler Files Bankruptcy – Part I: Assessing The Financial Carnage
[Part II - Testing the Limits of Section 363 Sales; Part III: Will the Absolute Priority Rule Kill the Sale?] [6/09/09 Update: See also my analysis of the Chrysler Sale Opinion…
In Solvency
Despite Having No Funded Debt, Sun-Times Media Files for Bankruptcy Hoping to Sell Assets Under Section 363
By Fox Rothschild LLP, Fox Rothschild LLP
Introduction Chicago media giant, Sun-Times Media Group ("Sun-Times" or "Debtors"), filed chapter 11 bankruptcy petitions in the Delaware Bankruptcy Court on March 31, 2009. In initial pleadings filed with the…