- 11 U.S.C.
In re Daufuskie Island Props. LLC
Jun
17
2011
Ruling
Sale of golf course free and clear approved, including "break up fee" to stalking horse bidder.
Procedural posture
Movant, the Chapter 11 trustee, sought authorization per 11 U.S.C.S. § 363(b) and § 363(f) and Fed. R. Bankr. P. 6004 to sell real and personal property comprising a golf course free of liens, claims, encumbrances and other interests and other than in the ordinary course of business in a transaction. Some objections were filed. Issues included whether a "break-up" fee was properly paid to a stalking horse buyer (SHB).
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Court
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