What is strawman in project management?
In software development, a straw man is a crude plan or document that serves as a starting point in the evolution of a project. A straw man is not expected to be the last word; it is refined until a final model or document is created that resolves all issues concerning the scope and nature of the project.
What is the stalking horse strategy?
A stalking horse offer, agreement, or bid is a bid for a bankrupt firm or its assets that is arranged in advance of an auction to act as an effective reserve bid. The intent is to maximize the value of its assets or avoid low bids, as part of (or before) a court auction.
What is a credit bid?
Credit bidding is a mechanism, enshrined in the US bankruptcy legislation, whereby a secured creditor can ‘bid’ the amount of its secured debt, as consideration for the purchase of the assets over which it holds security.
What is a 363 sale definition?
The term “363 sale” refers to a sale of a debtor’s assets authorized under section 363 of the Bankruptcy Code. Generally, when bankruptcy practitioners refer to a “363 sale” they are referring to a sale of substantially all of the assets of a chapter 11 debtor.
How does a 363 sale work?
A 363 Sale refers to the sale of an organization’s assets. The bankruptcy court grants the debtor-in-possession or trustee the power to sell the organization’s assets even when there is an objection from junior creditors. Also referred to as subordinated debt, after a court hearing of their petition.
What is a stalking horse in politics?
The phenomenon occurs particularly in politics, where a junior politician acts as the stalking horse to promote the interests of a senior politician, who remains unseen in case the actions would damage him or her but nevertheless wants to provoke a debate or challenge to a party colleague.
What does it mean to horse someone?
If you describe a person or thing as a stalking horse, you mean that it is being used to obtain a temporary advantage so that someone can get what they really want. The stalking horse then withdraws in favor of a stronger challenger. The possibility of another stalking horse challenge this fall cannot be ruled out.
What does it mean to credit bid?
At the foreclosure sale, which is an auction, the lender will usually make a “credit bid.” With a credit bid, the lender bids the debt that the borrower owes. Basically, the lender gets a credit in this amount. The lender can bid the full amount of the debt, including foreclosure fees and costs, or it might bid less.
What is a topping fee?
In a 363 auction a type of break-up fee that the debtor agrees to pay to an initial proposed purchaser (the stalking horse) if the proposed purchaser is not the prevailing bidder in the auction.