"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Tuesday, August 23, 2011

Asarco Bankruptcy: "big judgment and a unique procedure to auction off that judgment"

Saturday, August 20, 2011
Bidders Reimbursed For Auction Which Never Occurred: The Fifth Circuit's ASARCO Opinion.........."This was a case about a big judgment and a unique procedure to auction off that judgment....(I have included the citations here because they are informative opinions for fraudulent transfer litigation). ...  In order to entice the bidders to perform the expensive legal due diligence necessary to evaluate the asset, ASARCO sought and obtained an order from the Bankruptcy Court authorizing it to reimburse qualified bidders for their due diligence expenses.... it can be used to tilt the auction procedures in favor of the stalking horse. ......"

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