Bankruptcy 363 Sales and Successor Liability: Navigating Limitations on "Free and Clear" of Liens and Other Interests
Maximizing Available Protections For a Buyer, Negotiating and Litigating the Scope of 363 Sale Orders
A live 90-minute CLE video webinar with interactive Q&A
This CLE course will discuss the doctrine of successor liability and provide an analysis of why that doctrine does not fit squarely with the doctrine of "free and clear" sales under Section 363(f) of the Bankruptcy Code. The program will analyze other examples of where the language in a "free and clear" sale order may not match the reality of whether a buyer will be insulated from future claims, and provide guidance on how to maximize the available protections for a buyer in the Section 363 sales process.
Outline
- Overview of Section 363 sales and "free and clear" protections: in rem and in personam perspectives
- Overview of "successor liability" under non-bankruptcy law
- Recent decisions limiting free and clear protections for Section 363 buyers facing successor liability claims
- Practice tips: negotiating and litigating the scope of Section 363 sale orders
- Practice tips: litigating claims against Section 363 buyers in non-bankruptcy courts
Benefits
The panel will address these and other key questions:
- How should bankruptcy law and policy be applied to the doctrine of successor liability of Section 363 buyers?
- What can Section 363 buyers do to reduce certain types of successor liability risk?
- Are there risks for Section 363 buyers that are outside the scope of what bankruptcy can address?
Faculty
Nick Buchta
Attorney
Jones Day
Mr. Buchta is a corporate restructuring lawyer with experience representing clients in complex, high-profile... | Read More
Mr. Buchta is a corporate restructuring lawyer with experience representing clients in complex, high-profile chapter 11 cases, out-of-court restructurings, and cross-border insolvencies in the retail, energy, health care, aerospace, telecom, sports, and financial services industries. He maintains an active pro bono practice, representing individuals seeking asylum in the United States. Mr. Buchta serves on the boards of the Olmsted Falls Alumni Association and Friars Senior Society of the University of Pennsylvania. He was voted Duke Law's Most Likely to Win Master Baker and was named the 2017 Gold Circle Award winner by the Columbia Scholastic Press Association for best sports commentary among college journalists nationally.
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Emma Marialuz Cervantes
Attorney
Jones Day
Ms. MariaLuz Cervantes has experience representing clients in complex, high-profile chapter 11 cases. Prior to joining... | Read More
Ms. MariaLuz Cervantes has experience representing clients in complex, high-profile chapter 11 cases. Prior to joining Jones Day in 2024, she represented creditors' committees and secured lenders in significant chapter 11 cases including in the pharmaceutical, automotive, and hospitality spaces.
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T. Daniel Reynolds
Attorney
Jones Day
Mr. Reynolds is a corporate restructuring lawyer who represents major constituencies involved in distressed... | Read More
Mr. Reynolds is a corporate restructuring lawyer who represents major constituencies involved in distressed transactions. This includes companies both in and out of bankruptcy, as well as unsecured creditors' committees and other major stakeholders.
CloseEarly Discount (through 01/31/25)