“Sales Free and Clear of Junior Liens: Life After Clear Channel”On March 15, 2012 by Schnader
Kevin W. Coleman, co-chair of the Firm’s Creditors’ Rights and Business Restructuring Practice Group, authored the article “Sales Free and Clear of Junior Liens: Life After Clear Channel” in the Spring 2012 issue of NABTalk, Journal of the National Association of Bankruptcy Trustees (Volume 28, Issue 1). The article discussed how courts have responded to the impediments Clear Channel Outdoor, Inc. v. Knupfer (In re PW, LLC), 391 B.R. 25 (9th Cir. BAP 2008) placed upon “free and clear” sales of over-encumbered assets under 11 U.S.C. Â§ 363(f), and identified strategies Chapter 11 debtors and trustees should consider to obtain approval for such sales.