Key Elements Of The Section 363 Sale Process

Law360, New York (August 20, 2013, 11:54 AM EDT) -- Section 363 is extremely flexible and each 363 sale can be customized to fit the particular needs and timeline of the debtor and the size and complexity of the transaction. This article contains summaries of key elements of the sale process for a “typical” 363 sale utilizing a public auction procedure since this is the most common procedure used in bankruptcy cases.

In a typical 363 sale, a debtor or trustee will execute a formal asset purchase agreement (APA) with an initial proposed purchaser whose bid...
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