Credit Bidding Is Alive And Well In Delaware

Law360, New York (June 3, 2014, 10:11 AM EDT) -- Much has been written about whether Bankruptcy Judge Kevin Gross’s decision in the Fisker Automotive case changed the rules of credit bidding.[1] Our view is that his decision has not.

Recall that in Fisker, Judge Gross of the United States Bankruptcy Court for the District of Delaware capped Hybrid Tech Holdings’ credit bid for Fisker’s hybrid electric vehicle company at $25 million. The judge imposed this cap even though the face amount of Hybrid’s debt was $170 million. Hybrid paid $25 million for the secured debt at an auction conducted by the U.S. Department of Energy two months earlier. Judge Gross...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!