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A stalking horse offer, agreement, or bid is a bid for a bankrupt firm or its assets that is arranged in advance of an auction to act, in effect, as a reserve bid. [ 1 ] [ 2 ] The intent is to maximize the value of its assets or avoid low bids, as part of (or before) a court auction .
The agreement for sale in Knight v. Wiffen (supra) was a sale ex-bulk, or at least it must have been seen as such, for otherwise Blackburn J's judgment would have contradicted his treatise in the passage above quoted. On this view, the bulk was the whole of the stock in Wiffen' s warehouse.
After you’ve painstakingly done your research on what stocks to buy or which company to invest in, if that company then files for Chapter 11 bankruptcy it can hit you hard, especially in the wallet.
Stock clearance is an activity by a company where ownership of products and materials moves on to another legal entity. These products and materials in stock clearance will not form the basis of a company's key activities. As such, they are often end-of-line, surplus, returned, or bankrupt.
(Reuters) - Trucking company XPO Inc won a bid to buy 28 service centers of bankrupt Yellow Corp for $870 million in a closely watched auction of the nearly 100-year-old firm's assets.
The sale of an entire inventory is not a bulk sale if it is sold to buyers in a manner that ensures adequate consideration. For example, if a merchant holds an auction sale for the entire contents of the business and the sale is in good faith, the buyer is not required to comply with bulk sales legislation. However, the buyer of a business with ...
The stock goes to zero or very close, and you’re unable to sell your position to anyone. The company goes bankrupt, but its stock remains in your brokerage account for some reason, and it’s ...
Buy–sell agreement can be in the form of a cross-purchase plan or a repurchase (entity or stock-redemption) plan. For greater neutrality and effectiveness of the buy–sell arrangement, the service of a corporate trustee is recommended. Profit or loss from a buy-sell agreement may trigger tax conquencess and taxable income. [2]
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