Sometimes being first on the scene is a good thing. Other times it is better to trail the first responders. When purchasing the assets of a distressed company under Section 363 of the Bankruptcy Code, there are advantages and drawbacks to both...

Becoming involved with a distressed asset is like deciding to read "War and Peace", but discovering that your copy of the book starts on page 400. It takes a lot of catching up. Getting to know the asset’s history and stakeholders, and the...