Restructuring

Weil attorneys Joe Basile and Patrick Joy discuss the use of Section 363(b) asset sales as an M&A and possible successor liability risks involved in such sales, especially when applicable state law can impose successor liability on an asset buyer under “product line” or other similar theories. Although bankruptcy courts have broad statutory power to reduce the risk of such liability, the courts’ ability to eliminate claims can be overestimated.
To view a pdf of the article, click here.