NextEra Ruling Could Support Initial-Bidder Expense Claims

By Ronit Berkovich (June 11, 2021, 12:46 PM EDT) -- On March 15, the U.S. Court of Appeals for the Third Circuit held that a stalking horse bidder may assert an administrative expense claim pursuant to Section 503(b)(1)(A) of the Bankruptcy Code for costs incurred in attempting to close on an unsuccessful transaction, even when the stalking horse bidder is not entitled to a breakup or termination fee....

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