binderholz Group’s Acquisition of Substantially All the Assets of Klausner Lumber Two Through a 363 Sale

On December 10, 2020, the Austria‑based binderholz Group, a leading European company for solid wood products and innovative building solutions, announced it had entered into a definitive agreement to purchase substantially all the assets of the North Carolina‑based sawmill operator Klausner Lumber Two, LLC after prevailing in an auction held on December 10, 2020. Klausner Lumber Two, LLC is currently in Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. The sale, which was made pursuant to Section 363 of the United States Bankruptcy Code, was approved by the court on December 17, 2020 and closed on January 8, 2021. Cravath is representing binderholz Group in connection with the transaction.

The Cravath team includes partner Thomas E. Dunn and associates William F. Roegge and Monica He on M&A matters; partner George E. Zobitz and associate Alexander Gerten on financial restructuring and reorganization matters; and partner Christopher K. Fargo and senior attorneys Andrew Carlon and Kiran Sheffrin on tax matters.