News & Analysis as of

Sale of Assets

Poyner Spruill LLP

The 23andMe Bankruptcy and Implications on Your Ancestry Data

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On March 23, 2025, 23andMe, along with its affiliates, filed for voluntary Chapter 11 bankruptcy. The company’s decision to file for bankruptcy follows in the wake of a 2023 data breach affecting close to 7 million customer...more

McCarter & English, LLP

Follow the Breadcrumbs: Where Does Consumer Data Go as 23andMe Goes Bankrupt?

23andMe, a pioneer in the DNA testing kit industry, announced that it has filed for Chapter 11 bankruptcy protection and recently asked to select an independent customer data representative regarding any sale of user data....more

Patterson Belknap Webb & Tyler LLP

Court Orders Removal of Couple from Upper East Side Mansion

While the bankruptcy world’s eyes are locked on the genetic code up for auction in 23andMe’s chapter 11 proceedings, we are also focused on a more old fashioned asset: New York City real estate. 19 East 75th Street (the...more

Holland & Knight LLP

GSA Updates Proposed Sale of Government-Owned Properties Throughout the Country

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As discussed in a previous Holland & Knight alert, the U.S. General Services Administration (GSA) is seeking to dispose of a substantial portion of its owned inventory. On March 24, 2025, GSA released a new list of properties...more

Holland & Knight LLP

GSA Proposes the Sale of Hundreds of Government-Owned Properties Throughout the Country

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In addition to reducing its leased footprint, as discussed in a previous Holland & Knight alert, the U.S. General Services Administration (GSA) is seeking to dispose of a substantial portion of its owned inventory, including...more

Miles & Stockbridge P.C.

Breaking Down the Proposed Federal Real Estate Shakeup

While there have been previous efforts to reduce the federal government’s real estate footprint, the scope and speed with which the Trump administration proposes to reduce that footprint is unprecedented....more

Eversheds Sutherland (US) LLP

In re Urban Commons 2 West LLC (Bankr. SDNY Mar. 4, 2025)

Bankruptcy Court Elects to Follow Majority Interpretation of 11 U.S.C. § 363(f)(5) On March 4, 2025, the United States Bankruptcy Court for the Southern District of New York (the Bankruptcy Court) issued a significant...more

Offit Kurman

The Gray Tsunami: How Retiring Business Owners Can Prepare for a Successful Sale

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There is a significant demographic shift headed our way known as the “gray tsunami,” as a very large portion of the American population will reach retirement age and eventually exit the workforce. In fact, we are at a peak...more

Eversheds Sutherland (US) LLP

Recent ruling provides guidance on 363 asset sales

On February 12, 2025, the US District Court for the District of Delaware issued a significant ruling in the case of HE, Inc. v. Avadim Holdings Inc. and Relion Holdings LLC. This decision arose from the Chapter 11 bankruptcy...more

Schwabe, Williamson & Wyatt PC

Transaction Q+A: What Private Business Owners Should Know Before Selling

Brian Andreosky, President of Aldrich Capital Advisors, and lawyer Matt Bisturis, Shareholder at Schwabe, Williamson & Wyatt, P.C., discuss steps that private company owners should consider before, during, and after sale of...more

DLA Piper

US Bankruptcy Court Denies Stalking Horse Bidder’s Motion to Disregard Late Filed Overbids

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In re Parkcliffe Development, LLC, Case No. 24-30814 - The US Bankruptcy Court for the Northern District of Ohio in In re Parkcliffe Development, LLC, Case No. 24-30814 (JPG) entered an order on January 28, 2025 denying a...more

Goodwin

Stalking Horse Bidders: What Bid Protections Can You Expect in a Section 363 Sale?

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Conducting an asset sale through a bankruptcy auction — a Section 363 sale — is an effective and common M&A tool for a distressed company. In anticipation of a 363 sale, a Chapter 11 debtor typically tries before its...more

Goodwin

Seven Success Factors for Winning Section 363 Acquisitions

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In the high-stakes world of bankruptcy asset acquisitions, Bankruptcy Code Section 363 provides a powerful mechanism for purchasing assets “free and clear” of most claims, liens, and encumbrances. Success in these...more

Fisher Phillips

Successor Withdrawal Liability in Asset Sales: 5 Tips for Employers Before Buying the Assets of a Unionized Company

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When a New York waste operator took over a waste hauling and recycling contract for Westchester County last year, the successful acquisition of a multimillion-dollar business opportunity turned into a pension liability...more

Orrick, Herrington & Sutcliffe LLP

What's the Best Transaction Structure for My Sale?

Sit down with Eric Wall and Mark Seneca for insights on: Tax advantages and disadvantages for stock vs. asset sales The most common deal structure for VC-backed company sales and why Structuring a “tax-free” transaction...more

Amundsen Davis LLC

Eligibility for Significant Savings From the Sale of Qualified Small Business Stock Under Internal Revenue Code Section 1202

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If you own a small business, you may qualify for significant tax savings under section 1202 of the Internal Revenue Code of 1986, as amended (Section 1202). Owners or investors of certain C corporations (C corps) may be...more

Mayer Brown

Plus-value de cession de titres réalisée par un particulier : absence d'incidence de l'abandon d’une partie du prix de cession...

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La Cour administrative d’appel de Versailles juge qu’un contribuable qui, par des abandons de créances, a renoncé à percevoir une partie du prix de cession des titres qu’il a cédés ne peut demander une réduction du montant de...more

Mayer Brown

Droit de l’usufruitier de parts sociales sur le dividende issu de la vente de la totalité des immeubles d’une SCI (Cour de...

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En l'absence de convention particulière entre le nu-propriétaire et l'usufruitier de parts sociales, le dividende prélevé sur le produit de la vente de la totalité des actifs immobiliers d'une société civile immobilière (SCI)...more

Rivkin Radler LLP

Structuring Your Dental Practice Transaction and Elements of the Purchase Agreement

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In our previous article, we described the due diligence process, including what a buyer would look for in your practice. Once due diligence is under way, the next step is the purchase agreement, which is usually prepared by...more

Lowenstein Sandler LLP

Bankruptcy in Real Estate: What to Do When Faced with Foreclosure?

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This episode of “Terra Firma: Conversations on Commercial Real Estate” features hosts Stacey C. Tyler and Stephen Tanico talking with Eric Chafetz, partner in Lowenstein’s Bankruptcy and Restructuring Group, about office...more

WilmerHale

Royalty Financings and Similar Revenue Monetizations Surge in Difficult Life Sciences Fundraising Environment

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Many biopharmaceutical companies are facing challenges raising cash through traditional equity markets. While venture investment activity saw a slight increase in the first half of 2024 as compared to the equivalent period in...more

BCLP

A Capital Blow for Deducting Management Expenses

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The Supreme Court confirmed in Centrica Overseas Holdings Ltd v HMRC that the tests for trading and management expenses of a capital nature are the same. The decision also confirms that once a company has decided in principle...more

Fenwick & West LLP

Rawat Creates a Ripple in Statutory Interpretation Principles

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Recently, in Rawat v. Commissioner, the D.C. Circuit reversed the Tax Court decision and held that a foreign partner would not be subject to U.S. tax on selling an interest in a partnership with “hot assets” subject to §...more

Nutter McClennen & Fish LLP

Tenant’s Rights When Its Commercial Landlord Seeks Chapter 11 Protection

Financial distress persists in the commercial real estate market, raising the prospects that property owners and landlords could seek relief under chapter 11 of the Bankruptcy Code. The Bankruptcy Code contains numerous...more

Paul Hastings LLP

The Legal 500’s Restructuring & Insolvency Comparative Guide

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Our London Financial Restructuring team authored the UK chapter of the 8th Edition of The Legal 500’s “Restructuring & Insolvency Comparative Guide". The guide provides information on the current issues affecting...more

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