Risk of Limits on Credit Bidding in Bankruptcy May Be Overstated
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Risk of Limits on Credit Bidding in Bankruptcy May Be Overstated
By Paul D. Leake, Partner, Jones Day
In 2014, the U.S. Bankruptcy Court for the District of Delaware issued a controversial ruling in the Fisker Automotive case limiting the amount of a secured creditor’s credit bid in a bankruptcy sale to the discounted purchase price the credit bidder had paid to acquire the secured debt...
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Paul D. Leake is a partner at Jones Day and head of the Business Restructuring and Reorganization Practice. He has over 25 years’ experience representing all major constituencies in restructurings and focuses on U.S. and transnational business reorganizations. Leake has published and lectured extensively on U.S. and transnational insolvency matters. He can be reached at pdleake@jonesday.com or 212-326-3482.
