Fostering Competitive 363 Sales Is Not Always ‘Cause’ to Limit Right to Credit Bid
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Fostering Competitive 363 Sales Is Not Always ‘Cause’ to Limit Right to Credit Bid
By Jeffrey Cohen, Partner & Gabriel L. Olivera, Associate, Lowenstein Sandler LLP
Asset sales pursuant to Section 363(b) of the U.S. Bankruptcy Code have become a common staple of complex Chapter 11 bankruptcies. Major companies such as The Rockport Co. LLC, Nine West Holdings Inc., and the Weinstein Company have all used 363 sales, as they are known in bankruptcy parlance,...
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Gabriel L. Olivera is an associate in the Bankruptcy, Financial Reorganization & Creditors’ Rights practice of Lowenstein Sandler in New Jersey. He is experienced in financial reorganization and corporate bankruptcy-related litigation and has counseled creditors’ committees, trade creditors, securities class action plaintiffs, and debtors in a variety of complex restructuring matters. At another firm, he served on the team representing the Puerto Rico Financial Oversight and Management Board in its municipal bankruptcy filing. Olivera holds a law degree from Tulane Law School and a bachelor’s degree from Boston University.
Jeffrey Cohen is a partner in the Bankruptcy, Financial Reorganization & Creditors’ Rights practice of Lowenstein Sandler in New York. His practice centers on Chapter 11 bankruptcy reorganizations and related litigation. Cohen often provides advice to private equity-sponsored and venture capital-backed distressed investors, representing boards of directors and management in the out-of-court winddown or distressed M&A process in a variety of industries. He holds a law degree from St. John’s University School of Law and a bachelor’s degree from the State University of New York at Albany.
