What Is A Stalking Horse Bid In Real Estate?
A stalking-horse bid is an initial bid on the assets of a bankrupt company, setting the low-end bidding bar so that other bidders can’t underbid the purchase price. Other buyers can submit competing offers following the stalking-horse bid.
Is stocking a horse or stalking?
A stalking horse is a figure used to test a concept or mount a challenge on behalf of an anonymous third party. If the idea proves viable or popular, the anonymous figure can then declare its interest and advance the concept with little risk of failure.
What is a dark horse bidder?
In politics, a “dark horse” is a candidate for office for whom little is known or for whom expectations are low, but who then goes on to unexpectedly win or succeed.
How do stalking horse bids work?
A stalking-horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on the firm’s remaining assets. The stalking horse sets the low-end bidding bar so that other bidders can not underbid the purchase price.
Is a stalking horse bid binding?
For example, if no one shows up at the auction, the stalking horse may wonder if it overbid for the assets. Once the bankruptcy court approves the stalking horse agreement, it becomes binding on all parties and difficult, if not impossible, to renegotiate.
What is a 363 sale?
A 363 Sale refers to the sale of an organization’s assets under Section 363 of the US Bankruptcy Code. The sale enables debtors to fulfill their obligations to creditors by selling their assets and using the funds collected to settle their debts.
Why do they call it dark horse?
The term began as horse racing parlance for a race horse that is unknown to gamblers and thus difficult to establish betting odds for. The first known mention of the concept is in Benjamin Disraeli’s novel The Young Duke (1831). Disraeli’s protagonist, the Duke of St.
Is being called a dark horse good?
If you describe someone as a dark horse, you mean that people know very little about them, although they may have recently had success or may be about to have success.
Should you buy a horse from an auction?
If you’re on a budget and looking to purchase a horse, you should consider buying a horse at auction. Horses tend to go for lower prices at horse auctions because the price is often determined by the highest bidder.
What is a stalking horse synonym?
also-ran. long shot. sleeper. underdog. hundred-to-one shot.
What should be included in a horse sale contract?
The sale agreement (a written agreement) needs to include:
- Name and addresses of the parties;
- Date of purchase and date of completion of the contract;
- Details of the horse;
- Purchase price and how funds are to be paid;
- Any vices/behavioural problems disclosed to the buyer;
- Any illnesses disclosed to the buyer;
What is an Article 9 sale?
Under Article 9 of the UCC, a secured creditor’s remedies include a sale of its collateral. As with a sale under section 363 of the Bankruptcy Code, the secured lender may choose to credit bid in connection with a sale of its collateral and thereby become the owner of the collateral.
What is a dip account?
Debtor in possession (DIP) is typically a transitional stage in which the debtor attempts to salvage value from assets after bankruptcy. The most obvious reason for obtaining DIP status is that the assets are used as part of a functioning business with higher resale value than the assets themselves.
What does it mean to file for chapter 11?
This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.
Why do people sell horses at auctions?
These auctions are essentially an outlet for owners to relieve themselves of the financial burden of an unwanted horse. Typically owners will sell the horse to a local dealer who will then take the horse to auction.
How much can you negotiate on a horse?
“A reasonable offer would be 15-20 percent below asking price. I try to meet somewhere in the middle.” “You can always make an offer. However, if the horse is reasonably priced based on the market and performed as expected, it would be unreasonable to offer significantly less than the asking price,” said Cooper.
What is a fair price for a horse?
To buy a horse, you can expect to pay between $100 – $10,000, depending on the horse breed’s pedigree, how you are planning to use the horse, and your location. The average cost of a hobby-horse is about $3,000. According to Seriously Equestrian, the most expensive horse breeds can cost up to $250,000.
What does dark horse mean in a person?
us/ˈdɑrk ˌhɔrs/ a person who is not expected to succeed in or unexpectedly wins an election, race, or other competition: a dark horse in the primaries.
What is the difference between a dark horse and an underdog?
A dark horse in sports is an unknown team, or a team with unknown strengths that goes on to surprise people by winning or doing better than everyone expected. Both of these expressions are used to talk about people in general. Underdogs are the people in society that nobody expects to be successful.
What’s another term for dark horse?
What is another word for dark horse?
| also-ran | long shot |
|---|---|
| poor bet | poor lookout |
| poor possibility | poor prognosis |
| poor prospect | slim chance |
| small chance | stalking horse |
What is a dark horse in football?
No World Cup is complete without the dark horse—the team that arrives at the tournament with little or no expectation around its performance, and that goes on to proceed through round after round.
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