A ‘Free and Clear’ Sale Order Is Only as Good as the Notice It Is Predicated Upon
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A ‘Free and Clear’ Sale Order Is Only as Good as the Notice It Is Predicated Upon
By Mark S. Indelicato, Managing Partner & Alison Ladd, Associate, Hahn & Hessen LLP
Section 363(f) of the U.S. Bankruptcy Code enables a trustee or Chapter 11 debtor to sell its assets “free and clear of any interest in such property of an entity other than the estate,” provided it meets certain conditions. 11 U.S.C. Section 363(f). As courts have explained, “allowing sales of...
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Alison Ladd is an associate with Hahn & Hessen LLP. Her practice focuses primarily on creditors’ committees, liquidating trustees, and secured and unsecured creditors in complex corporate reorganizations, restructurings, and liquidations. Ladd has extensive experience representing clients in a number of different industries, including retail, manufacturing, wholesale/distribution, and specialty chemicals. Her creditors’ committee representations include Gymboree, Hancock Fabrics Inc., Furniture Brands International Inc., Syms Corporation and Filene’s Basement, 4Kids Entertainment Inc., and Crabtree & Evelyn Ltd.
Mark S. Indelicato is managing partner of Hahn & Hessen LLP. He specializes in the practice of bankruptcy and creditors’ rights. He has been counsel to official unsecured creditors’ committees in cases that include Gymboree, Vertellus Specialties Inc., Furniture Brands International Inc., Reichhold Industries, and some of the largest subprime mortgage lender bankruptcies filed, including New Centruy TRS Holdings Inc. and American Home Mortgage Corp. Indelicato is past TMA Global chair and president and past president of the New York Chapter.
