Comparing A 363 Sale To A Plan Of Reorganization

Law360, New York (November 13, 2013, 9:54 AM ET) -- Assets can be conveyed by a debtor or trustee, as seller, in a bankruptcy case in three ways.

First, a debtor or trustee can sell assets to a buyer by way of a “private sale” under Section 363. Under this approach, the seller selects a single buyer to sell the asset to for a fixed price and then seeks bankruptcy court approval of that particular deal. After selecting the buyer and agreeing to the sale terms of a private sale, no other competing bids or higher...
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