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Free And Clear Asset Sales Through Section 363

Law360 (October 14, 2008, 12:00 AM EDT) -- A sale pursuant to section 363 of the Bankruptcy Code generally is the preferred approach for acquiring assets out of bankruptcy because the process is less expensive than sales under Chapter 11 plans or state law foreclosure remedies, presents less execution risk and provides buyers with certainty that the assets they acquire are purchased free and clear of all interests. These advantages have helped create a robust, value-maximizing market for acquiring distressed assets out of bankruptcy.

A recent decision of the Bankruptcy Appellate Panel of the...
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