by: Peter S. Hartheimer
General Capital Partners, LLC;
New York
In these unprecedented times, fast-track sales of troubled companies are prevalent across a wide range of industry sectors. With traditional M&A, there are a variety of options available to companies seeking to restructure their businesses, but there are no guarantees that a transaction will take place. Today, an aura of fatigue looms over the negotiating process, forcing interested parties to increasingly gravitate toward a sale process that is marked by a compressed transaction schedule and, most notably, predicated on a date-certain event. Today’s quick sales are defined by some as transactions completed in less than 120 days, yet the set timeframe may be the defining attribute—lighting a proverbial fuse for buyers to take full advantage of a temporal opportunity.
Read the full article.
ABI's 28th Annual Spring Meeting will be held April 29-May 2 at the expansive Gaylord National Resort and Convention Center, just moments from Washington, D.C. Nestled in a harbor on the banks of the Potomac with views of our Nation's Capitol, this hotel offers the best in the meetings industry with high-end guest rooms, fine and casual dining and a spa.
The Asset Sales Committee will present a session on Friday, April 30 at 4:15 p.m. entitled "Who Owns the Assets? Competing Interests as Speed Bumps to 363 Sales." Panelists will discuss issues that should be considered regarding advance determination of property or assets prior to a sale of said assets. Joseph M. Vann of Cohen Tauber Spievack & Wagner P.C. in New York will moderate. Panelists will include Lawrence L. Ginsburg of Moses & Singer LLP in New York, Michael O'Hara of Consensus Advisors in Boston and Hon. Elizabeth S. Stong of the U.S. Bankruptcy Court in Brooklyn, N.Y. Please click the link below to view the materials.
Who Owns the Assets? Competing Interests as Speed Bumps to Section 363 Sales
Please submit articles for publication in future editions of the Asset Sales Committee newsletter to John H. Maddock, III at jmaddock@mcguirewoods.com.
