Title

Insolvency and Restructuring Update
Piccadilly Cafeterias, Inc.

Created date

6/24/2008
In an important decision published last week, the United States Supreme Court held that an asset sale is eligible for the transfer-tax exemption under section 1146(a) of the Bankruptcy Code only if such sale occurs at or following the confirmation of a chapter 11 plan (and not in a pre-confirmation sale under section 363).
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