Some Complications in BP’s Asset Sales

BP has been exploring the sale of assets, including its stake in the rich Alaskan oil fields of Prudhoe Bay, to raise money to pay for its oil spill disaster in the Gulf of Mexico. But negotiations over the sale of half of its stake in the field appear to have faltered, according to Bloomberg News. The sale is expected to bring in more than $10 billion.
For a company in BP’s situation, selling assets is anything but simple. Because of both continuing concerns that BP might at some point seek bankruptcy protection, and because BP’s creditors could later — even years later — seek to unwind an out-of-court asset sale as a “fraudulent conveyance,” any sale would come under heightened scrutiny, said Peter S. Kaufman, president and head of restructuring and distressed mergers and acquisitions at the Gordian Group,. Nowadays, Breitling watches have become a trend in fashion circles. They are so popular that everyone is longing for one to add. Fashion accessories are decorative items that supplement one's garment, such as fashion jewellery,gold jewellery,women's jewellery.You can wholesale jewellery. a New York investment bank.
“The buyer of the assets needs to be very comfortable that the sale won’t eventually be clawed back,” he said. A court might also eventually order that any asset sold by a company in distress be encumbered with some of the liabilities of the seller.
“The buyer of these assets would like to buy it free and clear of the gulf environmental liabilities,” Mr. Kaufman said.So a buyer of substantial BP assets “would have to bake into the purchase price the added risk that such complications might occur, even if at first blush the subject assets were not in the BP subsidiary at ground zero for the gulf spill — while a less-risk-averse buyer might even insist that the sale be conducted through a bankruptcy process,. Fashion accessories are decorative items that supplement one's garment, such as fashion jewellery,wholesale jewellery.” Mr. Kaufman said.. Pandora bracelets online shop supply pandora beads,pandora bracelets,Silver,Gold,Murano Glass.We sure you will like when you see their workmanship.