Section 363 Sales Under the Bankruptcy Code

Section 363 of the Bankruptcy Code can be a powerful tool for unwinding complicated financial structures. Under Section 363, the bankruptcy court can sell assets "free and clear of any interest." A 363 sales is not only effective for the debtor, providing the quick sale of the property without resolving competing interests in the property as a condition of the sale, but also advantageous for the buyer providing protection from successor liability.

In this 363 sales podcast, Bill Murray, the Chair of Orrick's Real Estate Group and Los Angeles real estate partner Jerry Walsh, provide investors insight on how to navigate through complicated, distressed financial structures as the stalking horse bidder and how to bring together the buyer, debtor or trustee and a debtor's senior lender.