CRG Partners Group LLC;
Dallas
If anyone doubts that baseball still lies in the soul of the American psyche, all they have to do is observe the controversy and emotion that surrounded the Texas Rangers bankruptcy case. More than any of the histrionics and battles between billionaires for control of the team, the Rangers case showed that bankruptcy law can withstand an outraged fan base screaming for their hometown hero, Nolan Ryan, to win the bid, withstand death threats to court officers from those same fans, endure lawyers trying the case in the media and rebuff the media itself as it whipped up fan emotion in its posture as the people’s advocate. The court and bankruptcy, in the end, did what they were designed to do: provide a fair price or fair process, and return $100 million more back to the creditors and the franchise than they would have received otherwise.
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Do you sometimes wonder what your peers think about timely issues? Drop by the committee's listserve to join the ongoing discussion regarding recent cases involving stalking horse bid. Share ideas and knowledge on the Asset Sales Committee listserve. The listserve is a great way to converse with colleagues about current issues and cases. To post a question or comment, simply send an email to abi_asset_sales@dizzy.abiworld.org. To view previous discussions on the listserve, please click here.
ABI invites you to take advantage of the of the Asset 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 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.
