Emerging Opportunities in Bankruptcy Sales
Speaker: William Lilly Jr., CAI
This talk breaks down how stalking horse auctions work in bankruptcy and why they matter for both businesses and real estate. Using real-world deal stories, it shows how a single early bid can set the tone for an entire sale process. The presentation explains how stalking horse bidders reduce uncertainty while helping courts and creditors establish real market value. Attendees will see how these auctions create momentum instead of distress. The talk walks through key deal terms - like break-up fees and bid protections - without getting lost in legal jargon. It highlights how smart marketing can turn a quiet bankruptcy sale into a competitive auction. Differences between selling operating businesses and selling real estate are illustrated through practical examples. Common mistakes that stall or kill stalking horse deals are discussed openly. The session emphasizes decision-making under pressure and imperfect information. The goal is to leave the audience with a clear, usable understanding of how stalking horse auctions unlock value where others only see risk.
Attendees of this session will explore:
- How stalking horse bids set market value and create momentum in bankruptcy sales of businesses and real estate.
- What deal terms actually matter - including break-up fees, bid protections, and timelines - and how they influence bidder behavior.
- How marketing and process design drive competition, even in distressed or court-supervised sales.
- How to spot and avoid common pitfalls that derail stalking horse auction and destroy value.
