Section 363 Bankruptcy Sale defined: A section 363 Bankruptcy sale is a sale of assets in a bankruptcy case, usually in a Chapter 11 reorganization. An expedited auction of a bankrupt company where buyers are able to purchase assets free of any liens. Liens on the underlying assets sold will be reattached to the proceed of the sale and paid accordingly. Section 363 sales do not require shareholder approval.
Above is a definition for “Section 363 Bankruptcy Sale” from PrivCo’s Private Company Knowledge Bank, the definitive online and e-book guide to private companies and private company deals.
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