LexisNexis® Legal Newsroom
Stalking “Ponies” – Are Break Up Fees A Thing Of The Past?

The "Stalking Horse" is a term of art often used in the bankruptcy court to describe the initial bidder for a bankrupt company's assets. Typically, a company in bankruptcy will reach a deal with an outside bidder that wants to acquire all or substantially all of its assets. Prior to...

Two Cases Emphasize Distinct Approaches to Trustee Discretion

Trustees, like debtors-in-possession, owe a fiduciary duty to their constituents, but are protected by the business judgment rule. Two recent cases illustrate how a trustee's discretion can be exercised depending upon which rule is given primacy. In In re Tres-Ark,Inc., No. 09-12589 (Bankr. W...