- 11 U.S.C.
In re Exaeris Inc.
Jan
15
2008
Ruling
Sale of substantially all assets to creditor, including causes of action against that creditor, denied.
Procedural posture
A corporate debtor filed a petition under chapter 11 in July 2007, and six months later, it filed an expedited motion seeking an order authorizing the sale of substantially all its assets to a creditor or the creditor's designee. A committee of unsecured creditors took the lead in presenting the motion, and a bank that was also a creditor opposed the motion.
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Court
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