Archive for the ‘Sale of Assets’ Category

Most of us don’t have a $1 million Marilyn Monroe dress available to sell to generate cash. However, many individuals and businesses do have assets which they can bring a good price if the sale is properly managed. In a Chapter 7 case, the bankruptcy trustee will make an effort to sell valuable property for a good price, but buyers know that trustees are interested in a relatively quick liquidation. In the right circumstances, a Chapter 11 case can give you an opportunity to sell property for a better price. These may include: assets that require a longer marketing period;…

Typically, a business chooses Chapter 11 bankruptcy because it wants to continue operations. For liquidating a business, Chapter 7 may appear the obvious choice. However, a liquidation under Chapter 11 may provide advantages. An owner who has given personal guarantees can eliminate or reduce his or her own liability by selling the assets at the best possible value In a Chapter 11 case, the owner of a business can continue to operate it until a sale can be arranged, allowing the business to be sold at a higher going concern price. A business owner will usually be in a better…

In the news today, the video chain Blockbuster, Inc. received approval from the judge assigned to its Chapter 11 bankruptcy case to sell its assets to Dish Network Corp.

You or your company may also be able to sell assets as part of a Chapter 11 bankruptcy.