SulmeyerKupetz Represents Successful Over Bidder in Section 363 Acquisition

SulmeyerKupetz was retained by a client based in Europe to acquire two operating businesses from a chapter 11 bankruptcy estate. At the time of the firm’s retention, the chapter 11 trustee had already entered into an asset purchase agreement, subject to overbid procedures, with a stalking-horse buyer.

The sale involved all assets, including real estate, of a corporate subsidiary that was in chapter 11 as well as a division of the corporate parent that was also in chapter 11. SulmeyerKupetz assisted its client with legal due diligence, submission of an overbid, negotiation and preparation of an asset purchase agreement and various related documents. The firm represented its client at the live auction, the overbid was successful, and the client’s acquisition was approved by the U.S. bankruptcy court.

SulmeyerKupetz handled the client’s closing and post-closing issues and documentation. The transaction was concluded on an expedited schedule and the transition of the businesses to the client went smoothly. David Kupetz, Jeffrey Pomerance and Jason Balitzer of SulmeyerKupetz handled this acquisition.


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