Stalking horse auction software for high-stakes asset sales.
Anchor the sale with a pre-negotiated baseline bid, then let qualified buyers compete above it. Unovance Global gives bankruptcy trustees, brokers, and asset managers a structured, defensible auction on a platform they own.
A stalking horse auction opens with a committed buyer whose negotiated offer becomes the baseline bid — the floor every other party must clear. It is the standard playbook for Chapter 11 bankruptcy sales, distressed real estate, and major asset dispositions, where sellers and creditors need a guaranteed minimum before the asset goes to market.
The stalking horse does two things at once: it protects the sellerwith a credible floor, and it invites competition by giving other bidders a clear number to beat. In exchange, the lead bidder typically receives break-up fees and expense reimbursement if a higher bid wins.
Unovance encodes all of it — baseline bid, bid protections, minimum overbid increments, and bidder qualification — into a single auditable event. And because it runs on a platform you own, the bidder relationships and the record stay yours, not a marketplace's.
Everything a defensible baseline-bid sale demands.
Lock the baseline bid
Designate a stalking horse bidder and set their offer as the floor, so every subsequent bid must clear a known, defensible minimum.
Configurable bid protections
Encode break-up fees, expense reimbursement, and minimum overbid increments into the auction rules so the lead bidder is compensated if topped.
Bidder qualification & deposits
Vet and approve competing bidders, collect refundable deposits, and gate participation to financially capable parties before the auction opens.
Auditable record for the court
Every bid, increment, and qualification decision is timestamped and exportable — the clean paper trail trustees, lenders, and judges require.
Frequently asked questions
What is a stalking horse auction?+
A stalking horse auction begins with a pre-negotiated baseline bid from a selected buyer, the stalking horse. That offer sets the floor and the deal terms, then the asset is exposed to competing bidders who must beat it. It is most common in Chapter 11 bankruptcy sales, distressed real estate, and large asset dispositions where the seller wants a guaranteed minimum before opening the doors.
Why use a stalking horse instead of a plain auction?+
The stalking horse guarantees a known price and vetted terms before the sale, protecting the seller and creditors from a weak or failed auction. It anchors the bidding at a credible level, signals confidence to other buyers, and still lets the market drive the price higher through competitive overbids.
How does Unovance handle bid protections and break-up fees?+
You configure the stalking horse's protections directly in the auction rules: break-up fee, expense reimbursement, and the minimum overbid increment that a topping bid must clear. The platform enforces those thresholds automatically, so a competing bid is only accepted when it satisfies the agreed terms.
Is the process defensible for a bankruptcy court?+
Yes. Every action — bidder qualification, deposits, each bid and increment, and the final award — is timestamped and exportable. That auditable record supports the transparency and fairness that trustees, lenders, and judges expect when approving a sale.
Run your next stalking horse sale on a platform you own.
From baseline bid to court-ready record, Unovance Global gives you the structure and ownership that high-stakes asset sales require. Talk to our team to scope your sale.