United States: Unsuccessful Successors? Limits on Bankruptcy Sales ‘Free And Clear’ of Successor Liability

By Andrew N. Goldman, George W. Shuster, John D. Sigel and Meg M. Feist, WilmerHale Overview While many bankruptcy sale orders contain provisions purporting to absolve the purchaser of “successor liability” claims related to the purchased assets or business, a recent case from the U.S. Bankruptcy Court for the Southern District of New York is […]