: This is the most common method in Chapter 11 bankruptcy. You buy specific assets (equipment, IP, inventory) rather than the entire company entity.

: You acquire the company by being part of its formal reorganization plan.

: You take assets "free and clear" of most previous liabilities; the process is relatively fast.

: Can offer broader protections against successor liability than a 363 sale.

: Typically involves an auction where you may be outbid.

The structure of your purchase significantly impacts your future liability and the complexity of the deal.