- 11 U.S.C.
In re Olsen Agric. Enters.
May
17
2012
Ruling
Sale and application of proceeds in best interests of debtor in possession and creditor's approved over objection of guarantor.
Procedural posture
Debtor-in-Possession (DIP) and a creditor agreed to a plan of reorganization which involved the pre-confirmation sale, subject to the creditor's credit bid, of eight separate parcels. The proposed sale, pursuant to 11 U.S.C.S. § 363, would have been free and clear of liens and encumbrances. A guarantor of a term loan (the "Objector") filed a "limited objection" to the sale.
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Court
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