When selling a private company, Sellers understandably focus on providing bidders with a comprehensive data room packed with detailed documents and information about every aspect of their business. They expect bidders to pore...more
The term “Highest and Best” deal has been well-known in the bankruptcy field for many years. In a bankruptcy auction of a business or real property, the judges, trustees and creditors recognize that the better deal is not...more
The commercial real estate market is in a period of transition. Previously, with historically low interest rates, buyers were eager to get into the “seller’s market” and would accept more seller-favorable terms to distinguish...more
Following the onset of the COVID-19 pandemic, many jurisdictions put moratoria in place prohibiting foreclosure sales. However, most moratoria have expired and foreclosure sales, conducted at public auction, are ramping up as...more
Favorable valuations are fueling opportunistic purchases by overseas bidders- Spiraling COVID rates, supply chain issues and food and fuel shortages have all hit the headlines in the months since the end of the Brexit...more
A unanimous New York Court of Appeals recently held that the acceptance of an auction bid for the sale of a syndicated loan may constitute a final and binding trade, even if there is language indicating that the agreement is...more