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0907006 Informal Interpretation
us-ftc-hsr-informal-interpretations-310f750b770b544a9b3a492e240a3dfc0907006 Informal InterpretationGuidance
Date
Rule
803.10
Response/Comments
The parties amend their filings and a new 15-day waiting period starts as of the date of amendment. Obviously, if they are 15 days or more into the waiting period it would not behoove them to amend. M Bruno, K Berg and K Walsh concur.
Question
From:
(Redacted)
Sent:
Tuesday, July 14, 2009 6:12 PM
To:
Verne, B. Michael
Subject: Bankruptcy/Waiting period
Mike,
We represent apotential acquirer ("Client"), which is interested in Company X.Company X may file a bankruptcy proceedings soon. If Client and Company X reacha deal and make appropriate filings under the HSR Act, and Company Xsubsequently files for bankruptcy protection before the end of the originalwaiting period, what is the effect of section 363(b ),the shortened 15-daywaiting period. Assume that Company X filed for bankruptcy 5 days into theoriginal waiting period. Would the 15-day shortened waiting period be tacked onto the number of days already run, such that 5 plus 15 =20 day waiting period,or would the 15-day period apply from the original date of filing such that thewaiting period would be a total of 15 days.
I can't findanything in the regs or informal interpretations that directly addresses thisissue.
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