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Articles by Meredith Mitnick
Stalking Horse Bidders: What Bid Protections Can You Expect In A Section 363 Sale?
Conducting an asset sale through a bankruptcy auction — a Section 363 sale — is an effective and common M&A tool for a distressed company. In anticipation of a 363 sale, a Chapter 11 debtor typically tries before its Chapter 11 filing to negotiate a binding "stalking horse bid" for its assets. The stalking horse bid ensures that the debtor will have a purchaser willing to pay an acceptable price and serves as a starting point against which other potential purchasers must initially bid.
Stalking Horse Bidders: What Bid Protections Can You Expect in a Section 363 Sale? | JD Supra
Conducting an asset sale through a bankruptcy auction — a Section 363 sale — is an effective and common M&A tool for a distressed company. In anticipation of a 363 sale, a Chapter 11 debtor typically tries before its Chapter 11 filing to negotiate a binding “stalking horse bid” for its assets. The stalking horse bid ensures that the debtor will have a purchaser willing to pay an acceptable price and serves as a starting point against which other potential purchasers must initially bid.
A Brief Defense Of COMI
For a foreign proceeding to be recognized under the UNCITRAL Model Law on Cross-Border Insolvency ("Model Law")2 and its offspring, chapter 15 of the Bankruptcy Code3, the foreign proceeding must be either a foreign main proceeding or a foreign nonmain proceeding. A foreign main proceeding is one taking place in the country where the debtor has the center of its main interests ("COMI").
A Brief Defense of COMI | JD Supra
I. COMI Antecedents1 For a foreign proceeding to be recognized under the UNCITRAL Model Law on Cross-Border Insolvency (“Model Law”)2 and its offspring, chapter 15 of the Bankruptcy Code3, the foreign proceeding must be either a foreign main proceeding or a foreign nonmain proceeding. A foreign main proceeding is one taking place in the country where the debtor has the center of its main interests (“COMI”).
Till We Meet Again: Eighth Circuit Weighs in on Appropriate Interest Rate in a Cramdown | JD Supra
Much has been written about how to calculate the appropriate interest rate for the deferred cash payments a debtor may propose to pay to a rejecting secured creditor under a “cramdown” Chapter 11 plan to meet the “fair and equitable” requirement for confirmation under section 1129 of the U.S. Bankruptcy Code.1 The Bankruptcy Code does not specify how to calculate such a rate. The Supreme Court’s decision in Till v.
Till We Meet Again: Eighth Circuit Weighs In On Appropriate Interest Rate In A Cramdown
Much has been written about how to calculate the appropriate interest rate for the deferred cash payments a debtor may propose to pay to a rejecting secured creditor under a "cramdown" Chapter 11 plan to meet the "fair and equitable" requirement for confirmation under section 1129 of the U.S. Bankruptcy Code.1 The Bankruptcy Code does not specify how to calculate such a rate. The Supreme Court's decision in Till v.
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