Seward & Kissel has represented investors seeking to purchase assets in distressed situations, including in sales pursuant to the Uniform Commercial Code and section 363 bankruptcy sales. Our firm has also represented parties with varying interests in evaluating and potentially challenging those sale processes. Seward & Kissel’s experience on both sides of the table gives us unique insight into the strategy and motivations of distressed asset purchasers and sellers, as well as the perspective of other interested constituencies.

  • Paragon/Prospector Offshore.  Seward & Kissel represented an entity purchasing the shares of an offshore drilling company in a tender offer that was conditioned on the completion of the acquisition of drilling rig assets subject to the chapter 11 bankruptcy proceeding of an affiliate.
  • Toisa Limited.  Seward & Kissel represented two separate secured lenders in precedential shipping industry section 363 sale process, including negotiation of sale procedures and sale price allocation methodology.
  • Primorsk.  Seward & Kissel represented a potential purchaser of tanker vessels in the section 363 bankruptcy sale process of a shipping company.
  • FTD.  Seward & Kissel represented a fund client in evaluating section 363 bankruptcy sale process and potential sale counterparties.
  • Gracious Home.  Seward & Kissel represented the unsecured creditors’ committee in the Gracious Homes bankruptcy cases, and objected to a proposed section 363 sale.
  • Videology, Ltd.  Seward & Kissel represented significant unsecured creditor Sky (UK) Limited in the Videology, Ltd. bankruptcy cases, which involved the sale of substantially all of the debtors’ assets under section 363 of the Bankruptcy Code. Seward & Kissel assisted in the evaluation of the sale process, and the subsequent mediation regarding the allocation of the sale proceeds, which were far in excess of what had been expected. Ultimately, the client obtained a favorable resolution through a negotiated global settlement.
  • Weinstein Television.  Seward & Kissel represented a counterparty to a distribution agreement with a Weinstein entity in relation to the sale of Weinstein’s assets to Lantern Entertainment, and the impact of the sale on the client’s rights.
  • Root9B.  Seward & Kissel represented a secured creditor in credit bid asset purchase in an Uniform Commercial Code sales process. Seward & Kissel’s client was ultimately able to resell the asset/solicit investment in the deleveraged business, achieving a successful outcome.