Identify the bankruptcy case and select your role
Select a role from the dropdown. Then click on "Case Search" and enter the case number, region, and / or chapter. The system will connect with PACER to retrieve a list of possible cases. Click on the case number link to select the case you want.
If you select the wrong case, you can run the case search again.
Create a Title & Description, and Upload Files
Create a descriptive title for your item. You may provide an optional subtitle.
Next, from the drop-down, select the main category of what you are selling. Once you make a selection, you will be prompted to select a sub-category and enter a description.
Depending on the type of item you will sell, the form will change to provide the appropriate inputs. Complete as much information as you feel necessary to inform your buyers about what it is you are selling. If you are selling more than one asset per case, don’t worry. After publishing your first item, you can add more assets to the same case without have to re-enter case specific information.
After creating a description, you may upload images and documents to enhance your listing. Make sure to use the "document upload" section to upload any sale motions, notices or other pleadings relevant for potential buyers.
After uploading media, you can optionally enter additional information if desired.
Select Marketing Type & Set a Price
Next you need to select how you want your item marketed from the following two choices:
- Listing: this is a simple advertisement much like a newspaper advertisement. Buyers will see your ad and may contact you via the information you provide in the advertisement. However, they will not be able to transact with you through Inforuptcy.
- Seek Offers: In addition to being an advertisement (like a Listing), potential buyers can make offers online, which you can review and respond to. In addition, to assist you with conducting the transaction online and dealing with multiple offers, you can select to add workflow tools into your transaction. Please see below for a description of the workflow tools.
If you have a minimum price or overbid amount, make sure you enter that in this section. Also be sure to enter a date on which you want your ad to expire.
Add Optional Workflow
If you select "Seek Offers" as your marketing type, then you will also have the option of integrating workflow into your transaction to facilitate online buyer qualification and reporting. Currently, you can select from four workflow possibilities:
- Specific Information Request: As a Seller, you may request potential buyers to provide specific information, such as identification, proof of funds, or a corporate resolution. Whatever the particular need for your transaction, you can describe it and require potential buyers to upload documents or evidence for your review. Simply select the "Specific Information" checkbox under the workflow options and complete a description of your requirements.
- Deposit: If you want to require a potential buyer make a good faith deposit before being able to make an offer, select the "Deposit" checkbox under the workflow options, and provide the information required for a buyer to send you their deposit.
- NDA: If you want to have potential buyers sign a nondisclosure agreement (NDA) before providing them sensitive information about the asset for sale, select the "NDA" checkbox under the workflow options. You will be able to upload your own NDA with instructions for potential buyers. You may opt to have them upload a scanned copy through Inforuptcy. This will allow you to view, respond, and keep track of all potential buyers’ uploads from one central administration page – the Manage Workflow section of your transaction. See the section below on managing workflow for more information.
- Virtual Dataroom: If you want to provide potential buyers voluminous amounts of information (for example, when selling a going concern), select this option to associate a dataroom with the transaction. You will be notified once a buyer has viewed the information, so that you may allow them to proceed and make an offer from the Manage Workflow section of your transaction.
Preview and Publish
After entering all the information you want, at the bottom of the form, indicate your agreement to our terms and conditions and click "Preview." You will see a preview of your listing as it will actually appear once listed so that you can review your listing before you submit it for publishing.
If you find errors, typos, or decide to add or remove something, you can click "edit" at the bottom of the preview page. When satisfied, you may submit for publishing.