In re GSC Inc.
Jul
18
2011
Ruling
Trustee's motion for sale of assets granted where assets would be diminished before chapter 11 plan could be confirmed.
Procedural posture
Debtors, an asset management company and its subsidiaries, filed petitions under Chapter 11 of the Bankruptcy Code, and a trustee was appointed to administer the debtors' bankruptcy estates. The trustee filed a motion for an order which, inter alia, authorized him to sell the debtors' assets pursuant to 11 U.S.C.S. § 363(b) and to assign certain executory contracts. Creditors that had loaned money to the debtors filed objections.
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Court
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In re JL Bldg. LLC
Jun
24
2011
Ruling
Trustee's motion for sale of property and assignment of leases granted.
Procedural posture
Chapter 7 trustee filed a motion seeking authority to sell certain property under 11 U.S.C.S. § 363(b)(1) and (f) and to assume the leases pertaining to that property and assign those leases to the buyer.
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Court
:
- 11 U.S.C.
In re Harbor E. Dev. Ltd.
Jan
06
2011
Ruling
Debtor authorized to lease unsold condominium units subject to future, reasonable approval of creditor.
Procedural posture
A chapter 11 debtor filed a motion to approve a lease and to approve its leasing of all unsold units generally. It also sought clarification as to whether leasing was within its ordinary course of business under 11 U.S.C.S. § 363(b)(2) or whether approval of leases had to be obtained from the court. The primary secured creditor objected.
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Court
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In re Boston Generating LLC
Dec
03
2010
Ruling
Power companies granted authority to sell substantially all assets.
Procedural posture
Debtors, companies that operated power plants that provided wholesale electricity to the Boston, Massachusetts, area, filed petitions under Chapter 11 of the Bankruptcy Code, and they filed a motion seeking authority to sell substantially all of their assets to a corporation ("buyer"), pursuant to 11 U.S.C.S. § 363(b). Lenders that held second liens on the debtors' property and an Official Committee of Unsecured Creditors opposed the motion.
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Court
:
In re Rosbottom
Dec
01
2010
Ruling
Approval granted for sale of mineral assets free and clear by trustee.
Procedural posture
Chapter 11 trustee filed a motion pursuant to 11 U.S.C.S. § 363(b) for an order authorizing and approving the auction sale of mineral assets free and clear of liens, encumbrances, and interests.
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Court
:
- 11 U.S.C.
In re Shubh Hotels Pittsburgh LLC
Nov
23
2010
Ruling
Debtor hotel owner granted authority to execute franchise agreement with hotel chain.
Procedural posture
A chapter 11 debtor filed a motion pursuant to 11 U.S.C.S. § 363(b)(1) requesting authority to execute a franchise agreement with a hotel chain. The transaction was supported by the official committee of unsecured creditors, but was opposed by the debtor's secured lender.
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Court
:
In re Amidee Capital Group Inc.
Oct
04
2010
Ruling
Sale of substantially all assets outside of ordinary course of debtor's business approved.
Procedural posture
The debtors filed a motion for an order, inter alia, authorizing the sale of substantially all of their assets, free and clear of liens, claims, interests, and encumbrances, subject to higher or better offers, and approving the assumption and assignment of certain executory contract and unexpired leases in connection with such sale and determining and adjudicating cure amounts with respect to such contracts and leases.
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Court
:
In re Karykeion Inc.
Aug
16
2010
Ruling
Secured claim took priority over claim of lenders who had not perfected their interests in debtor's property.
Procedural posture
Debtor corporation filed a petition under chapter 11 of the Bankruptcy Code, and a creditor filed a secured claim against the debtor's bankruptcy estate. The debtor, joined by an Official Committee of Unsecured Creditors, filed a motion to value the creditor's claim.
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Court
:
In re One Vision Park Inc.
Jun
03
2010
Ruling
Estate funds could be used to pay member of unsecured creditors' committee to review claims of creditor whose principal was also a member.
Procedural posture
The U.S. Trustee appointed a committee of unsecured creditors in a bankruptcy case, and the bankruptcy debtor moved pursuant to 11 U.S.C.S. § 363(b) for authority to use estate funds to pay a member of the committee to review claims of a creditor whose principal was also a member of the committee and a reviewer of claims.
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Court
:
- 11 U.S.C.
In re Premier Concrete LLC
May
03
2010
Ruling
Chapter 11 debtor's motion to sell encumbered vehicles prior to conversion to chapter 7 denied.
Procedural posture
A debtor filed a motion to sell its unencumbered vehicles outside the ordinary course of business pursuant to 11 U.S.C.S. § 363(b)(1) to pay postpetition wages and postpetition professional fees prior to conversion of the case from chapter 11 to chapter 7. The debtor's largest creditor objected to the sale.
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Court
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