Section 363 sale

Section 363 sale
USA
A procedure under Section 363(b) of the Bankruptcy Code that allows a company to sell its assets outside of the ordinary course of business during bankruptcy proceedings. Section 363 sales require the approval of the bankruptcy court, obtained on a motion and hearing, and are typically conducted by public auction under the supervision of the bankruptcy court. A main advantage of a section 363 sale is the ability to obtain assets free and clear of liens and most liabilities attached to the assets.
For more information, see Practice Notes, Buying Assets in a Section 363 Bankruptcy Sale: Overview (www.practicallaw.com/1-385-0115).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Section 363 sale — or 363 sale the sale of corporate assets under Section 363 of the Bankruptcy Code. Under Section 363(f), a bankruptcy trustee or debtor in possession may sell the bankruptcy estate s assets free and clear of any interest in such property.… …   Glossary of Bankruptcy

  • 363 sale — Section 363 sale or 363 sale the sale of corporate assets under Section 363 of the Bankruptcy Code. Under Section 363(f), a bankruptcy trustee or debtor in possession may sell the bankruptcy estate s assets free and clear of any interest in such… …   Glossary of Bankruptcy

  • Sale el Sol — This article is about the album. For the song, see Sale el Sol (song). Sale el sol Studio album by Shakira …   Wikipedia

  • General Motors Chapter 11 reorganization — The General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through section 363 of Chapter 11, Title 11, United States Code in the United States Bankruptcy Court for the… …   Wikipedia

  • Motors Liquidation Company — logo Motors Liquidation Company (MLC), formerly MTLQQ on OTC Pink, was the company left to settle past liability claims from General Motors Chapter 11 reorganization. It exited bankruptcy on 31 March 2011 only to be carved into four trusts; the… …   Wikipedia

  • credit bid — USA credit bid, Also known as credit bidding. The right of a secured creditor under the Bankruptcy Code to use its secured claim against a debtor as currency in an auction of its collateral in a debtor s Section 363 sale (§ 363(k) …   Law dictionary

  • credit bidding — USA credit bid, Also known as credit bidding. The right of a secured creditor under the Bankruptcy Code to use its secured claim against a debtor as currency in an auction of its collateral in a debtor s Section 363 sale (§ 36 …   Law dictionary

  • Open Range Communications — is a telecommunication company providing wireless broadband solutions. The company develops and markets WiMAX (Worldwide Interoperability for Microwave Access) network products. It also offers wireless voice and data transmission solutions. The… …   Wikipedia

  • USA PATRIOT Act, Title III — The USA PATRIOT Act was passed by the United States Congress in 2001 as a response to the September 11, 2001 attacks. It has ten titles, each containing numerous sections. Title III: International Money Laundering Abatement and Financial Anti… …   Wikipedia

  • The Gores Group — Industry Private Equity Founded 1987 Founder(s) Alec Gores, Chairman CEO …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”