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Stalking Horse Real Property Sales in Bankruptcy: To Stalk or Not To Stalk
This webinar will discuss the benefits and pitfalls of stalking horse purchases and/orsales in bankruptcy proceedings.
1 Participatory MCLE Credits
Lovee Sarenas
Lovee Sarenas concentrates her practice on trustee representations in bankruptcy cases underChapter 7 of the Bankruptcy Code and representing creditors’ committees and distressed small businesses in Chapter 11 cases. She has assisted and worked with institutional banks, insurance companies, airlines, storage facilities, commercial property owners, small businesses, and turnaround professionals.
Her experience includes counseling international companies in major retail bankruptcy cases; handling bankruptcy-related real estate issues; defending institutional clients in a variety of bankruptcy litigation, avoidance actions and fraudulent transfer claims; and serving as debtor-inpossession counsel to a B2B e-commerce company in an intellectual property sale. She has experience with PACA claims and bankruptcy-related issues in farm business reorganizations. Having a dedicated and broad bankruptcy experience enables her to create practical, cost-efficient, and innovative solutions to a variety of insolvency situations her clients may confront. Throughout her career, Lovee has played a critical role in a number of reorganization, bankruptcy litigation and insolvency matters.
Lovee is the first Filipino-American to serve as a judicial clerk for two bankruptcy judges: the late Richard M. Neiter and Ellen A. Carroll (ret.) of the U.S. Bankruptcy Court for the Central District of California. Before she clerked with Judge Neiter, Lovee practiced as a restructuring attorney for a prominent chapter 11 boutique bankruptcy firm in Northern California.
She is also active in the community, having been recognized on account of several leadership roles in bar and community organizations in Los Angeles, including the Los Angeles Bankruptcy Forum, the Central District U.S. Bankruptcy Court Small Business Reorganizational Task Force, UPAAGLA Board of Directors, and the California Bankruptcy Forum. She is currently the vice president of the Los Angeles Bankruptcy Forum after a successful year chairing its Diversity Equity & Inclusion Committee where she co-founded the Hon. Richard M. Neiter Externship Fellowship that awards stipends to law students from underrepresented backgrounds who are full-time externs with the federal bankruptcy judiciary in the Central District.
She is a member of the USC Gould School of Law adjunct faculty and serves as an adjunct professor of bankruptcy law at Southwestern Law School in Los Angeles.
Michael Wolfe Davis
Michael Davis focuses on business, commercial, and insolvency law. His transactional work includesecured lending, distressed debt restructuring, lease financing, and corporate formation and governance. He also provides advice and oversight to his nationwide clients with regard to insolvency issues, as well as the negotiation and documentation of business transactions.
Michael provides a variety of services to DTO’s clients, including structuring of loan transactions, compliance with loan and security requirements, inter-creditor arrangements, security and priority issues, environmental concerns, and preparation of loans and related agreements. Michael has overseen and closed numerous commercial loan transactions ranging from $2 million to $40+ million. In addition to his role as lender’s counsel, Michael represents clients in the alternative finance industry as national insolvency oversight counsel, and where necessary, as litigation counsel. As corporate counsel, Michael has advised management and business teams on various legal and commercial financing issues. On a daily basis, Michael provides counsel with respect to the underwriting, proposed structure, and documentation of large and complex relationships including the related unsecured, asset-based, and real estate financing lines. Michael has substantial experience in bankruptcy-related litigation, including prosecuting and defending fraudulent transfer and preference matters, lien priority disputes, non-dischargeability matters, and claims-related disputes. He has represented bankruptcy trustees, receivers, creditors, and assignees for the benefit of creditors in a variety of matters including fraud, breach of duty, professional negligence, malpractice, and breach of contract. Michael represents his clients in both federal and state courts, and where necessary, on appeal. Recently, he was part of a trial team representing a bankruptcy trustee in a Ponzi-scheme-related fraudulent transfer adversary proceeding. Michael’s past representations include debtors, secured and unsecured creditors, creditors’ committees, and chapter 7 and 11 trustees in both individual and corporate cases, as well as courtappointed receivers. Michael is a member of the CLA Business Law Section’s Executive Committee. Michael values giving back to the community and has worked on a number of pro bono matters. He has also enjoyed volunteering for charitable organizations including Public Counsel, Neighborhood Legal Services of Los Angeles, Ronald McDonald House, Habitat for Humanity, Bet Tzedek, and the Leukemia & Lymphoma Society. Michael is licensed to practice law in California and is originally from Miami, Florida and of Cuban descent. He is most boastful about his wife and two daughters, with whom he spends all of his free time.
Jim Hill
A founding member of Sullivan Hill, member of its Executive Committee and chair of the Insolvency and Commercial Bankruptcy practice group, Jim Hill practices primarily in the areas of bankruptcy, insolvency and commercial law. His bankruptcy experience includes representation of creditors, bankruptcy trustees and select bankruptcy debtors in Chapter 11 business reorganization cases, and he has served as a court-appointed examiner and mediator. Mr. Hill also works regularly with clientson asset sales and acquisitions, on state and federal court receivership cases, and on business workouts, restructuring and dissolution matters, among other commercial law matters.
Mr. Hill served two terms as the inaugural Chair of the Board of Representatives of the California Lawyers Association (CLA) from its launch in January 2018 through October 2019, representing nearly 100,000 current California attorneys and other members of its various Sections. He previously served as the CLA Board Representative of the Business Law Section (BLS), of which he was the chair in 2016-2017 when it was still part of the State Bar of California. Prior to that, Mr. Hill was co-chair of the BLS Insolvency Law Committee (2012-2013). Mr. Hill received singular recognition for his contributions to the practice of business law in California by receiving the California Lawyers Association’s Business Law Section Lifetime Achievement Award in October 2022.
Mr. Hill was recognized in Best Lawyers® as the “Lawyer of the Year” in San Diego in 2019 and 2017 in the fields of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, and was selected by his peers for inclusion in the 23rd, 24th, 25th, 26th, 27th, 28th and 29th edition of Best Lawyers in America® in the fields of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law as well as Commercial Litigation. In addition, Mr. Hill was named a Top Rated Lawyer by Martindale-Hubbell and American Lawyer Media in Commercial Bankruptcy and Creditor-Debtor Rights and in Corporate Restructuring and Bankruptcy. Mr. Hill has an AV® Preeminent™ Peer Review Rating by Martindale-Hubbell.
Mr. Hill has also been recognized as a Super Lawyer in the field of Bankruptcy and Creditor/Debtor Rights in 2007-2023 and was named a Top San Diego Lawyer in 2015-2023 by San Diego Magazine. He was selected as one of The Daily Transcript’s “50 Influential Leaders” in the San Diego business community for 2018. He was also named Mediator of the Year by the Bankruptcy Court for the Southern District of California in 2013, 2014 and 2015. Previously, Mr. Hill was named on the San Diego Business Journal’s Best of The Bar list for 2016.
Gary Rudolph, Director
MaryBeth Heydt
MaryBeth Heydt has over twenty-five years of in-house, AmLaw100 law firm and Fortune 50 business advisory experience representing and advising commercial real estate investors and developers, lenders, borrowers, and public agency clients.
MaryBeth's practice focuses on a broad range of commercial real estate transactions. MaryBeth's transactional experience includes a wide variety of product types including, multifamily, industrial, retail, office, hospitality, sale/leaseback, gas stations, convenience stores, quick-service restaurants, agriculture, and gaming. On the commercial and corporate side, MaryBeth has extensive experience advising and representing clients in matters involving real estate acquisitions, dispositions, development, leasing, construction, land use/zoning, planning, condemnation, environmental, and property management. Ms. Heydt also has experience advising clients in business entity formation and governance. On the finance side, MaryBeth advises and represents lenders in loan originations, modifications, refinancing, workout, foreclosure, and lender liability actions.
Prior to joining DTO Law, MaryBeth practiced at Lewis Brisbois in their commercial real estate, public agency, commercial finance, and banking practice groups. MaryBeth also served as an internal commercial real estate workout and lending advisor to one of the largest banks in the United States. MaryBeth spent ten years as in-house counsel to commercial real estate investors and developers with assets across the U.S. MaryBeth has also served in the public sector as a Judicial Law Clerk to Judge Ronald Sohigian and Judge John H. Major for the Los Angeles Superior Court and as a legal extern for the Natural Resources Defense Council, Wisconsin Department of Natural Resources, and Los Angeles City Attorney Land Use Division. Additionally, she has litigated high profile cases such as the Northridge Meadows Apartment collapse matter.
MaryBeth also holds a Master of Planning degree from the University of Southern California. When MaryBeth is not closing deals, you will find her traveling (twenty-six countries and counting), watching Wisconsin Badger and Southern Cal Trojan football, mentoring college and graduate students interested in careers in law or real estate, cooking, going to performing arts events, or spending time with her family (including her rescue fur babies).
Mark E. Edward Porter
Mark Porter concentrates his practice on mergers and acquisitions and on commercial lending, bankruptcy and insolvency matters.
He has represented acquirers and sellers in over 80 completed transactions with an aggregate transaction value in excess of $5 billion. These include mergers, asset purchases, tender offers and spin-offs. Mark has also represented debtors and bidders in bankruptcy sales and parties to transactions completed through general assignments for the benefit of creditors and foreclosure under UCC Article 9.
Mark also has experience counseling technology companies in a broad range of corporate and commercial matters in a variety of industries. Mark has represented borrowers in secured commercial debt facilities for public and private venture-backed companies and entities in the social impact space both in the United States and overseas. He regularly advises financially troubled companies on the fiduciary duties of their boards and on other issues that confront them in liquidation planning and winding up their affairs. He has significant experience in representing parties to distressed sales.
From 1988 until 1990, Mark clerked for the Hon. Lloyd King, U.S. Bankruptcy Judge, Northern District of California. He was a bankruptcy practitioner with a large firm in San Francisco before joining Fenwick in 1996.
Mark is the former Chair of the Executive Committee of the Business Law Section of the State Bar of California. Mark is also a former member and Chair of the Section’s Insolvency Law Committee and a co-author of the treatise, Sales and Mergers of California Businesses, Continuing Education of the Bar California (2002).
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