Thanks to the leadership of Ira L. Herman (Thompson & Knight LLP; New York) and ABI’s Asset Sales Committee, ABI is pleased to announce the roll-out of the Section 363 Sales Databank (http://363.abi.org). The website presents a (growing) databank of orders approving asset sales procedures from bankruptcy courts across the country in summary form. The data is organized by judicial circuit and is searchable by district, size of the transaction, or the key terms of the sale. We believe that this is the first publicly available website of its kind, which will prove to be a valuable resource to practitioners.
We need your help! The site currently includes 43 cases and is growing rapidly. However, with the explosion of asset sales in the recent wave of bankruptcies, there are many more sales to summarize and upload to the site. ABI is soliciting volunteers who would like to serve on the Editorial Board and be responsible for summarizing recent asset sales. If you would like to serve on the site's Editorial Board, please contact Ira Herman at Ira.Herman@tklaw.com. Alternatively, any registered user of the site can submit a case for consideration by clicking on the “Submit Case” tab in the menu after registering with the site. Once reviewed by the Editorial Board, the case will be added to the databank.
We look forward to your involvement.
by: Krystiana L. Gembressi
St. John's University School of Law;
Jamaica, N.Y.
A bankruptcy court may not reopen a bankruptcy case unless it finds that sufficient cause exists. In In re Dunning Brother’s Company,[1] decided under the Bankruptcy Act, the court held that there was cause to reopen a case that originated in 1936 in order to permit a trustee of a bankruptcy estate to administer unscheduled property that had remained part of the estate. The court’s rationale was that when a debtor fails to list certain assets in the bankruptcy estate, those assets will remain property of the estate long after the bankruptcy case is closed.
Read the full article.
ABI and the University of Missouri-Kansas City School of Law teamed up once again to present the 30th Annual Midwestern Bankruptcy Institute on October 1. The day-long program featured eight regional bankruptcy judges as well as top national and regional speakers. The program offered a mix of panels and debates on current developments. One of the sessions was relevant to the committee.
Panelists in the session "Business: 'Chapter 363': An Analysis of Leading Asset Sale Cases and Trends" will give a basic overview of 363 sales and will then discuss recent trends and developments. John Tittle, Jr. of NHB Advisors, Inc. in Irving, Texas will moderate. Panelists will include Douglas E. Deutsch of Chadbourne & Park, LLP in New York, Francis J. Lawall of Pepper Hamilton LLP in Philadelphia and Geoffrey A. Richards of William Blair & Company in Chicago. Please click the link below to view the materials.
Section 363 - An Analysis of Leading Asset Sale Cases and Trends
Volo, Latin for "speed" or "more rapidly," is dedicated to providing ABI members with the most timely bankruptcy decisions from the U.S. Courts of Appeal. The Editorial Board is comprised of editors from around the country who will summarize new appellate opinions and post them on the Volo website. ABI members can also subscribe to an RSS feed to receive summaries as soon as they are posted. Opinions will be summarized and posted within 24 hours.
Are you interested in volunteering to write summaries for your circuit? The website is set up with automatic rotation of assigned cases, so no one should receive more than an occasional assignment. As a "first responder," the goal is speed and accuracy - to quickly announce recent opinions before it becomes yesterday's news. To learn more, visit the Volo website at http://volo.abi.org or contact the Editor in Chief, Scott Gautier at sgautier@pwkllp.com.
