Asset Sales Committee

The use of social media accounts by companies is now commonplace, and these social media accounts have themselves become valuable assets.[1] In a recent bankruptcy case, the debtor company sought to sell substantially all of its assets, and the bankruptcy court had to analyze who owned the debtor’s social media accounts: the debtor, or the debtor’s for

Nomination Deadline: March 18, 2024

Criteria

• Completion of a distressed sale (in or outside of court via § 363, a plan, an assignment for benefit of creditors, Article 9, receivership, etc.) that was strategic and provided stakeholders with value (“Sale”);

In business restructuring and chapter 11 cases, it’s not all that unusual at the outset for  professionals to exclaim at some juncture, “You want me to do what…?” That was the question prior to the initiation of the Laforta-Gestao e Investimentos, Sociedade Unipessol, Lda., et al.

ABI’s Asset Sales Committee awarded the 2022 Asset Sale of the Year Award to counsel for the stakeholders involved in the successful 11 U.S.C. § 363 sale of the assets and interests of chapter 11 debtor Haven Campus Communities-Starkville, LLC in In re Haven Campus Communities-Starkville, LLC, which came before Hon. Selene Maddox of the U.S.

On April 21, 2023, ABI’s Asset Sales Committee announced that the 2022 Asset Sale of the Year was awarded to the case of In re Electric Last Mile Solutions Inc., et al. (Bankr. D. Del. Case 22-10537-MFW), for the sale of substantially all its assets to Mullen Automotive, Inc. (NASDAQ: MULN).

Hello and thank you to our existing members, and a warm welcome to those recently joining us. We hope this newsletter finds you well, and we look forward to seeing all of you in the coming year.

Nomination Deadline: Friday, March 31, 2023

Criteria

• Completion of a distressed sale (in or outside of court via § 363, a plan, an assignment for benefit of creditors, Article 9, receivership, etc.) that was strategic and provided stakeholders with value (“Sale”);

On April 29, 2022, the ABI Asset Sales Committee announced that the 2021 Asset Sale of the Year was awarded to In re Lighthouse Resources, Inc., et al. (Bankr. D. Del. Consol. Case No. 20-bk-13056- JTD), for the sale of its Wyoming real property assets.

We hope this newsletter finds you well. We welcome our new members and look forward to seeing all of you at our upcoming events.

The Asset Sales Committee is actively soliciting nominations for the Fourth Annual ABI Asset Sales Committee Sale of the Year Award. Details are set forth below. Please submit your best deal.

Nomination Deadline

Friday, March 18, 2022