Extract
Section 363 Asset Sales.
Summary
This briefing explores the chronology of asset sales under section 363 of the US Bankruptcy Code and compares them with Chapter 11 plans of reorganisation and English administration sales. Recent examples of section 363 sales include Avis Europe's acquisition of assets from the Budget Group and China Netcom's acquisition of assets from Asia Global Crossing. A section 363 sale resembles an English administration asset sale in some ways, as it involves the sale of assets free of historic liabilities, but there are some marked differences. Introduction Chapter 11 of the US Bankruptcy Code (C11) and plans of reorganisation (C11 plans) rarely seem to be o...See the full content of this document
Sponsored links
