Asset Purchases
SUPPORTING CLIENTS IN TEXAS AND NATIONWIDE.
Distressed Asset Sales in Bankruptcy: Section 363 & Strategic Solutions for Buyers and Sellers
The sale of some or all of a distressed company’s assets is often the best way to satisfy creditor claims. This can occur outside of court proceedings, in chapter 7 bankruptcy cases, or in chapter 11 bankruptcy cases.
The primary benefit to conducting the sale through bankruptcy is the ability to obtain a federal court order confirming the sale is free and clear of all liens, claims, encumbrances, or other interests under Section 363 of the Bankruptcy Code. This provides certainty for buyers and allows them to act on a shortened timeframe.
Shannon Lee Beatty LLP attorneys frequently guide clients through the purchase and sale of distressed assets through Section 363 sales, reorganization plan sales, and out-of-court distressed sale processes. Depending on the type of asset, there are a variety of bidding strategies that can be implemented.
We have familiarity with them all and can provide experienced advice on developing a successful strategy.