We agree that 802.63 is not available under these facts.
Question
From: Berg, Karen E.
Sent: Friday, May 8, 2020 10:51:19 AM (UTC-05:00) Eastern Time (US & Canada)
To: [Redacted]
Cc: [Redacted]
Subject: RE: 802.63
We agree that 802.63 is not available under these facts.
Karen
From: [Redacted]
Sent: Thursday, May 7, 2020 12:14:37 PM (UTC-05:00) Eastern Time (US & Canada)
To: [Redacted]
Subject: 802.63
Dear All:
Does 802.63 apply to a credit bid by a parent to acquire assets out of bankruptcy from a debtor in possession of a subsidiary of the parent? I know that intra-person does not apply as the bankruptcy filing severs the chain of control. I did not find any interpretations on point and I assumed that 802.63 would not apply because the parent would not be viewed as a creditor who extended credit in a bona fide credit transaction to its subsidiary but I wanted to check to be sure.
I hope all are well.