Top Northern California
Mar. 4, 2010
Asset Sales Trump Reorganizations As 'Wave of the Future'
With lenders reluctant to provide debtors the financing needed to reorganize under Chapter 11, bankruptcy lawyers have been advising companies to liquidate their assets under Sec. 363 of the Bankruptcy Code. As healthy companies look to take advantage of those opportunities, M&A activity with distressed assets has picked up.
Daily Journal Staff Writer
Shortly after Ontario, Calif.-based Anchor Blue Retail Group Inc. filed for Chapter 11 bankruptcy protection in May, San Francisco's Levi Strauss & Co. scooped up 73 of its outlet stores for $72 million.
Levi Strauss was one of many healthy companies that found bankruptcy court to be a great place to shop in 2009. There, under Section 363 of the U.S. Bankruptcy Code, buyers ca...
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