Asset Acquisitions/Dispositions
Acquiring and disposing of operating companies and other assets in bankruptcy cases, utilizing Section 363 of the Bankruptcy Code, and in non-bankruptcy, out-of-court restructures or liquidations, continues to be a growing area of our practice. Strategic purchasers, high net worth individuals, distressed investors and hedge funds are increasingly seeking opportunities to purchase specific assets or ongoing businesses from debtors or trustees in bankruptcy or from owners and lenders in a non-bankruptcy environment. Savvy investors recognize the opportunities and potential upside in the purchase of an established business that may be experiencing financial difficulties. Successful debtors and trustees recognize the importance of a well-designed and carefully structured approach to selling assets of a financially distressed company.
The Insolvency, Restructuring & Creditors' Rights attorneys at Munsch Hardt have extensive experience in asset acquisitions and dispositions involving a variety of assets throughout the United States. By teaming up with the attorneys in Munsch Hardt's Corporate & Securities group, we are able to provide strategic, cost-effective solutions for our clients pursuing acquisition opportunities. Similarly, we have the experience and expertise to assist bankruptcy debtors or trustees who are seeking to maximize their recovery from the sale of ongoing businesses or other assets.
- Representation of a privately equity firm based in Dallas, Texas in the $121 million acquisition and $85 million financing of a luxury hotel located in Alexandria, Virginia.
- Representation of a purchaser in the acquisition of a petrochemical and specialty products refinery.
- Representation of a seller of multiple manufacturing facilities in North Carolina, Nebraska and Oregon.
- Representation of a purchaser in the acquisition of substantially all assets of a municipal utility district.
- Representation of an agent for the 18 member bank group in the transfer of the equity interests of the entities owning the Mystic River and Fore River power plants in Massachusetts to single purpose entities created to hold such interests for the bank group. The projects were assigned to the bank group after various defaults and cost overruns of over $1 billion.
- Representation of a trustee in the sale of a fleet of deep-water pipeline service and repair vessels.
- Representation of the Chapter 11 trustee of Box-Crow Cement Company, L.P., filed in Dallas, Texas. The primary asset of Box-Crow Cement Company, L.P. was a state of the art cement manufacturing facility located in the Dallas, Texas area, which was successfully marketed and sold by the trustee to a French company. Assets aggregated $85-$100 million, with liabilities estimated at $190 million.
- Representation of White Rock Networks, Inc., a leading manufacturer of fiber optic telecommunications equipment, in its Chapter 11 case filed in the United States Bankruptcy Court for the Eastern District of Texas.
- Representation of a debtor in a liquidating Chapter 11 case of a corrugated box manufacturer.
- Representation of the purchasers of numerous assets of a complex waste disposal facility and chemical plant.
- Representation of a purchaser in the acquisition of a chain of fast food restaurants.
- Representation of a debtor in a liquidating Chapter 11 case of a multistate garage door manufacturer/distributor. The plan of reorganization, providing for sale of the company's assets, through a court approved auction process, was confirmed 29 days after filing of the case. Sale of the company closed four days after planned confirmation, resulting in payment of all secured debt and significant payment of trade claims.
- Representation of a debtor in the sale of two large country clubs.
- Representation of a purchaser in the acquisition of an entire subdivision of developed residential lots. .
- Representation of trustees, purchasers and creditors in the sale and acquisition of both domestic and foreign oil and gas properties.
- Representation of a purchaser of a toxic waste disposal site.
- Representation of a purchaser in the acquisition of a large retail complex.
- Representation of Texas Instruments Incorporated in its successful purchase of specialized tooling for the production of 300 million computer chips that were being sold by Qimonda Richmond, LLC, a company based in Richmond, Virginia, that filed for Chapter 11 bankruptcy in Delaware.
