| As we wrap up another incredible year, we wanted to take a moment to thank all of our members and reflect on our accomplishments together. It's been a year of growth, challenges and successes, and we're excited to share the highlights with you in this final newsletter of 2024. We look forward to the opportunities and adventures the new year will bring and hope to see many of you at future ABI events in 2025.
Recent Events
The committee co-hosted a “packed house” panel with the Health Care Committee at the Annual Spring Meeting in Washington, D.C., titled, “Unique Asset Sale Issues in Health Care.” Our fantastic panelists included Lorie Beers (Intrepid; New York), David Gordon (Polsinelli; Atlanta), Rob Orr (Sandton Capital Partners; Chapel Hill, N.C.) and Cynthia Romano (FTI Consulting, Inc.; New York). The panelists discussed how health care sales differ from other asset sales under § 363, and the role of various “players,” including debtor’s counsel, financial advisors (for both debtor and any committee of unsecured creditors), investment bankers, indenture trustees and bankruptcy court judges.
At the conclusion of the panel, the committee announced the winners of its Sixth Annual Asset Sale of the Year Award: Akorn Holding Company, LLC, with professionals from Proskauer Rose, Vedder Price, K&L Gates, Ropes & Gray, AlixPartners, Landis Rath & Cobb, Ankura, WilmerHale, Pachulski Stang Ziehl & Jones, Gibson Dunn, Kirkland & Ellis LLP and Troutman Pepper. The committee also awarded its first Asset Sale of the Year – Health Care Award to Borrego Community Health Foundation, with professionals from Dentons, FTI Consulting, Pachulski Stang Ziehl & Jones, Feldesman Leifer, Ankura, Squire Patton Boggs, Hanson Bridgett, Hooper Lundy Bookman, and Facktor. Each of the award recipients was provided an opportunity to contribute to the committee newsletter, where readers could learn more about these award-winning deals. Stay tuned for details and
deadlines to nominate for the 2024 annual award.
|
| |
|
| The committee then co-hosted a panel with the International Committee at the Winter Leadership Conference in Scottsdale, Ariz., titled, “Reverse Vesting Orders: The Most Powerful Tool You’ve Never Heard Of.” Our fantastic panelists include Adam Nach (Lane & Nach), Steven Weisz (Cozen O’Connor), Lisa Schweitzer (Cleary, Gottlieb, Steen & Hamilton) and Ken Kraft (Dentons) as moderator. This panel revisited some of the recent rulings and discussed the use of reverse vesting orders to effect asset sales in cross-border transactions.
Upcoming Events
The committee will be hosting a webinar in Q1 of 2025 to connect with members and discuss some key issues we believe will impact asset sales next year. We also plan to host another webinar in Q2/Q3 of 2025. Please contact William Hao if you are interested in participating or suggest a topic you would like to see covered.
The committee also releases newsletters throughout the year. Our most recent edition included the articles “Free and Clear? Attorney General Approval in 363 Sales of California Healthcare Facilities,” by Anthony Dutra and Johanna Williams of Hanson Bridgett, LLP; “Social Media Accounts and Subchapter S Election — All Vital Assets,” by Mark Salzberg and Michelle Saney of Squire Patton Boggs; and “Shift Technologies, Inc.: Salvaging Technology & Digital Assets in Chapter 11, A Case Study by Hilco Streambank,” by David Peress and Jordon Parker of Hilco Streambank. If you wish to contribute by writing about interesting or developing asset sales issues, please contact Chris Candon.
Finally, we are excited to partner with the DEI Committee at ABI's Annual Spring Meeting in 2025, and we have already identified potential speakers for a very topical and informative session.
Get More Involved
The leadership team attends multiple conferences throughout the year, so please look for us to say “Hi!” We also invite you to share with us any other questions or thoughts you might have regarding the Asset Sales Committee or ABI.
Best wishes for 2025. We hope to see you soon.
- Matt LoCascio, Co-Chair – mlocascio@schgroup.com
- Randye Soref, Co-Chair – rsoref@polsinelli.com
- Jane Kim, Education Director – jkim@kbkllp.com
- Christopher Candon, Newsletter Editor – ccandon@sheehan.com
- Steven Victor, Special Projects Leader – svictor@dsiconsulting.com
- William Hao, Membership Relations Director – william.hao@alston.com
- Hayley Harrison, Communications Director – hharrison@wernicklaw.com
|
|
