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ARTICLE · 02 APRIL 2020

363 Preparedness: Practical Sell-Side Tips

Mayer Brown
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The economic impact of the COVID-19 coronavirus remains uncertain, but many are preparing for an up-tick in bankruptcies and, in particular, 363 transactions – sales of assets pursuant to Section 363 of the US Bankruptcy Code.

United StatesFinance and Banking
Nina L. Flax
Nina L. Flax
Thomas Kiriakos
Thomas Kiriakos
Elena Rubinov
Elena Rubinov
Sean Scott
Sean Scott
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The economic impact of the COVID-19 coronavirus remains uncertain, but many are preparing for an up-tick in bankruptcies and, in particular, 363 transactions – sales of assets pursuant to Section 363 of the US Bankruptcy Code. Here are some practical steps that can help you prepare for your own 363 process and finding your stalking horse.

1. Consider Leveraging Review Activities to Collect Necessary Documents. Many companies are exploring avenues of relief from contractual obligations in the current environment, and many alerts are already out there examining MAE, force majeure, termination and other provisions that may offer such relief. While you are reviewing important contracts from an operations/continuity perspective, consider that you do not want to have to collect documents twice – when your personnel are already working off-site (or could be soon) and dealing with other time-sensitive matters as they arise. Designate a team member to become the repository

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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