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October 2018 Archives

What is a stalking horse bid in a section 363 asset sale?

In a business reorganization bankruptcy, an insolvent company reorganizes the structure of its business operations through a sale of assets and renegotiating the terms of loans and other debts owed. Under § 363 of the bankruptcy code, a debtor may sell all or part of its assets in an auction under the direction and approval of the court and creditor’s committee.

Can a Kenmore sale save Sears?

Here's one way to unload unmanageable debt and try to build for the future - sell a division that's still attractive to buyers, yet could cause problems down the road. Sears Holdings Corp. CEO Eddie Lampert has put the retailer's notable appliance brand Kenmore up for sale.

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