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Date
Rule
803.10
Staff
Michael Verne
Response/Comments
The parties amend their filings and a new 15-day waiting period starts as of the date of amendment. Obviously, if they are 15 days or more into the waiting period it would not behoove them to amend. M Bruno, K Berg and K Walsh concur.

Question

From:

(Redacted)

Sent:

Tuesday, July 14, 2009 6:12 PM

To:

Verne, B. Michael

Subject: Bankruptcy/Waiting period

Mike,

We represent apotential acquirer ("Client"), which is interested in Company X.Company X may file a bankruptcy proceedings soon. If Client and Company X reacha deal and make appropriate filings under the HSR Act, and Company Xsubsequently files for bankruptcy protection before the end of the originalwaiting period, what is the effect of section 363(b ),the shortened 15-daywaiting period. Assume that Company X filed for bankruptcy 5 days into theoriginal waiting period. Would the 15-day shortened waiting period be tacked onto the number of days already run, such that 5 plus 15 =20 day waiting period,or would the 15-day period apply from the original date of filing such that thewaiting period would be a total of 15 days.

I can't findanything in the regs or informal interpretations that directly addresses thisissue.

About Informal Interpretations

Informal interpretations provide guidance from previous staff interpretations on the applicability of the HSR rules to specific fact situations. You should not rely on them as a substitute for reading the Act and the Rules themselves. These materials do not, and are not intended to, constitute legal advice.

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