Bankruptcy Going-Out-of-Business Sales: Liquidation Agreements, Creditor Protections, Avoiding Pitfalls

Ms. Baker is the Deputy General Counsel for Hilco Global. She provides companywide legal support for various Hilco Global operating companies, such as Hilco Merchant Resources, Hilco Real Estate, Hilco Valuation Services, and Hilco Commercial Industrial. Ms. Baker is a highly accomplished lawyer with over 15 years of experience. She earned her B.A. from the University of Illinois – Chicago and her Juris Doctorate from the College of William & Mary. Additionally, Ms. Baker completed a two-year federal court clerkship for the Honorable Bruce I. Fox of the United States Bankruptcy Court for the Eastern District of Pennsylvania. Prior to joining Hilco Global, she was corporate restructuring attorney in the Chicago offices of Skadden, Arps, Slate, Meagher & Flom LLP and Quarles & Brady LLP.

Mr. Finizio focuses his practice on bankruptcy and insolvency matters. He represents a diverse range of clients including official committees of unsecured creditors, indenture trustees, debtors, bank agents, and other major secured and unsecured creditors in complex Chapter 11 bankruptcy cases, out-of-court restructurings, and other distressed situations. Mr. Finizio has extensive experience with representing parties in Chapter 11 cases in the pharmaceutical, healthcare, and retail industries, to name a few. He frequently publishes articles on insolvency issues and presents at industry conferences, discussing emerging issues on bankruptcy-specific topics. Mr. Finizio was listed in the 2021, 2022 and 2023 editions of Chambers USA: America’s Leading Lawyers for Business in the area of Bankruptcy/Restructuring. He was recognized in 2023 as a “Rising Star” by American Lawyer’s New York Law Journal. Mr. Finizio was also honored by the American Bankruptcy Institute (ABI) in 2022 as one of its "40 Under 40" Emerging Leaders for his Insolvency Practice.

Ms. Kalnit assists clients in developing a marketing plan for their brand and other IP assets and implementing that plan by thoroughly canvassing the marketplace to maximize the value of those assets. She has experience in the sale of IP assets in bankruptcy, out-of-court sale processes, assignments for the benefit of creditors and Article 9 foreclosure sales. Ms. Kalnit also works closely with consumer privacy ombudsmen when they are appointed in connection with the sale of personally identifiable information in bankruptcy. She joined Hilco Streambank with more than a decade of legal experience at two of the nation's top law firms. Most recently, Ms. Kalnit was a member of the bankruptcy and restructuring group of Cooley LLP, where she focused on large retail and consumer products transactions. She is a member of the Turnaround Management Association and the International Women’s Insolvency & Restructuring Confederation.

Mr. Posner focuses his practice on bankruptcy and insolvency matters. He represents companies, creditors’ committees, chapter 11 trustees, acquirers, financial institutions, and other significant parties-in-interest in complex reorganizations and financially distressed situations as well as debtor/creditor rights, and commercial litigation. He also has substantial litigation experience representing both plaintiffs and defendants in complex commercial litigation inside the context of complex reorganization cases, and in state and federal courts across the country.