Purchasers of Businesses or Assets
As Chapter 11 has become an increasingly popular vehicle for the sale of entire businesses or a portion of the assets of those businesses, a body of law, customs and practices, have developed with respect to such sales. Commonly referred to as Section 363 sales, the law — and the surrounding customs and practices — can vary from state to state, courthouse to courthouse, and even courtroom to courtroom.
Much Shelist's bankruptcy attorneys have considerable experience representing sellers and purchasers of businesses and their assets in Chapter 11 cases, in sales conducted under Article 9 of the Uniform Commercial Code (UCC), and through assignments for the benefit of creditors. As a result of our work with clients across the country, we are familiar with the local and jurisdictional nuances that relate to such sales.
We have negotiated scores of asset purchase agreements, sale procedure orders, and sale orders on behalf of sellers and purchasers. We often work side by side with attorneys in Much Shelist's mergers and acquisitions, securities, and commercial finance and tax practices in such transactions. Our lawyers have published a number of articles on Section 363 sales, delivered continuing legal education (CLE) presentations, and offered a featured presentation at the National Conference of Bankruptcy Judges on this topic.