Judge Gregory Sleet

None Too Appealing – District Court Turns Aside Free Lance-Star Publishing Credit Bid Lender

05/22/14

A recent ruling in the Chapter 11 case of Free Lance-Star Publishing limited the credit bidding rights of a secured creditor.  The ruling has called into question the ability of the holder of secured debt to utilize such debt to acquire companies on a going concern basis in bankruptcy cases, particularly in instances where the debt was acquired at a discount for such express purpose.  Because this has been

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