- 28 U.S.C.
In re GWLS Holdings Inc.
Feb
23
2009
Ruling
Credit bid sale allowed free and clear of liens.
Procedural posture
The bankruptcy court authorized a credit bid sale of substantially all of the chapter 11 debtors' assets. The sale order stipulated that the purchased assets remained subject to a lien in favor of the first lien lenders, pending further order as to whether such claim could be credit bid and whether the debtors' assets could be sold free and clear of such lien. The parties submitted supplemental memoranda.
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Court
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