How 363 Sales Differ From Out-of-Court Sales

Law360, New York (November 6, 2013, 2:01 PM EST) -- In most respects, a bankruptcy sale (often called a “363 sale” — the name comes from Section 363 of the Bankruptcy Code, which governs the sale of assets by a debtor in a bankruptcy case, 11 U.S.C. § 363) is nearly identical to a sale of assets outside of bankruptcy.

For example, in both situations, there is a prospective buyer who signs a confidentiality agreement and is given access to the seller’s documents, information and management. After completion of certain due diligence, the prospective buyer makes...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.