Over the summer, we wrote about why health care companies may want to consider buying assets out of bankruptcy, taking advantage of the Bankruptcy Code Section 363 sale process (a “363 Sale”). We are back with our second post, to provide more detail to the process and discuss some pros and cons of 363 Sales.

This two-part blog series discusses why buyers looking to make strategic purchases in the health care industry might want to take advantage of the Bankruptcy Code Section 363 sale process (363 Sale) and the pros and cons of buying assets out of bankruptcy through a 363 Sale.

In a recent judgment, HHJ Cooke found in favour of the defendant solicitors in a claim by the Trustees in Bankruptcy of Clifford Shore that Irwin Mitchell had failed properly to advise Mr Shore as to the risk of pursuing litigation that was subject to limitation arguments.

Kevin Hellard, Amanda Wade v Irwin Mitchell [2013] EWHC 3008 (Ch)

Background