Sales of Not for Profit Assets after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
by William W. Kannel and Adrienne K. Walker; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC; Boston
Sales of debtors’ assets in bankruptcy proceedings are quite common, either as part of a plan of reorganization or liquidation or pursuant to Bankruptcy Code §363. The Bankruptcy Code and the Federal Rules of Bankruptcy Procedure provide that a sale of a debtor’s assets occurs after notice to all creditors and an opportunity for a hearing. In the case of a not-for-profit entity (an “NFP”), the ability of a debtor to sell its assets in a bankruptcy often overlaps with various state laws and regulations governing NFP asset sales.
ABI Releases New Edition of Health Care Insolvency Manual
ABI has just released a timely second edition of ABI’s Health Care Insolvency Manual, which includes the significant health care and nonprofit provisions of the newly enacted Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The manual is an expanded and updated version of the first edition published in 1997. Written by leading health care and bankruptcy practitioners, it covers such topics as the structure of different types of health care providers, the unique executory contract issues involved in health care cases, fraud and abuse, Medicare and Medicaid fundamentals and much more. William W. Kannel (Mintz Levin et al, Boston) and David C. Hillman (Verrill Dana, Portland, Maine) are co-editors. The 224-page book is available for purchase online. Member price is $15 and non-member price is $20.