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    Commerce Department drops challenge to section 363 asset sale
    2011-04-22

    The federal government has stopped fighting court rulings that allowed an import company, which was facing steep penalty tariffs, to file bankruptcy and transfer its assets to a new business formed by the debtor's principals. The move is important to small to mid-size companies that want to rid themselves of substantial liabilities by selling assets to a new entity with identical ownership, "free and clear" under section 363 of the Bankruptcy Code.

    Filed under:
    USA, Corporate Finance/M&A, Insolvency & Restructuring, Armstrong Teasdale LLP, Bankruptcy, Credit (finance), Dumping (pricing policy), Investment banking, Liability (financial accounting), Tariff, Valuation (finance), US Department of Commerce, US Federal Government, Title 11 of the US Code, United States bankruptcy court
    Location:
    USA
    Firm:
    Armstrong Teasdale LLP
    What liquidation?
    2014-09-26

    On September 8th, 2014 the Court of International Trade dismissed an importer’s challenge to CBP’s liquidation of entries subject to anti-dumping duties.  The importer claimed the entries should have been subject to suspension of liquidation but were not.  The court determined that regardless of what should have occurred, the liquidation took place, and the importer did not take any action to reverse or negate that action.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Trade & Customs, Braumiller Law Group, Dumping (pricing policy), Liquidation, US Court of International Trade
    Authors:
    Sue-Ann Linnemann
    Location:
    USA
    Firm:
    Braumiller Law Group
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