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Purchase & Sale of Distressed Assets

CTSW advises purchasers of distressed assets outside bankruptcy and structures the deal to protect as best as possible against the impact of a bankruptcy filing (always a real possibility in a distressed deal). Moreover, due diligence is ever more critical, for there will be limited recourse, if any, against the seller that will likely be a debtor in bankruptcy after the deal closes. Special considerations also apply to sales of property by bankruptcy debtors and trustees for such sales are automatically subject to higher and better offers even after a “stalking-horse” purchase and sale agreement has been executed. Break-up fees, access to diligence materials and bidding procedures typically take center stage in these deals. Whether CTSW represents the stalking horse purchaser or a competing bidder in a bankruptcy court-supervised sale, in each instance CTSW seeks to gain advantage for its client in the process.

 

 

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