Distressed M&A: A Unique Area of the M&A Ecosystem with its Own Advantages and Challenges (Volume 37, Number 9–September 2021)
Author: James P. Gerkis.; Timothy Q. Karcher.; John A. Peterson III.
Source: Volume 37, Number 09, September 2021 , pp.119-127(9)
Abstract:
In this article, the authors describe the general legal framework for distressed mergers and acquisitions, and various deal structures that occur in this space. They then discuss the myriad considerations that should guide actors in distressed M&A transactions when considering the role of advisors to the distressed target entities, unsecured creditors, secured creditors, and acquirers. Topics considered in detail include section 363 sales; buyer due diligence of assets and liabilities; and use of representation and warranty insurance.Keywords: Out-of-Court Restructurings; Pre-packaged Chapter 11 Plans; Section 363 Sales; Representation and Warranty Insurance
Affiliations:
1: Proskauer Rose LLP; 2: Proskauer; 3: Proskauer.