I think the Debtor's Sale has occurred.
posted on
Sep 22, 2011 06:22PM
In Chapter 7 BK
I think the Debtor's Sale has occurred.
There were some new PACER docs, if I am reading the law jargon correctly the debtor's sale has taken place and the operating manager (who represents FG) is being terninated.
This Court entered an Order Authorizing and Approving: (1) Sale of Certain
Real Property and Certain Personal Property Assets Pursuant to 11 USC 363 Free and Clear of
Liens, Claims and Interests; and (2) Assumption and Assignment of Executory Contracts and
Unexpired Leases under 11 USC 365; and (3) Related Relief on December 17, 2010 (“Sale Order”)
authorizing the sale of all or substantially all of the Operating Assets of the Debtor.
This Court’s First Amended Stipulation and Order Regarding Termination
of the Automatic Stay entered on June 22, 2010 appointed Eric Klepfer as Operations Manager for
the Debtor and stated that his power and authority would terminate upon the transfer, by sale or
otherwise, of all or substantially all of the Operating Assets to a third party and/or at the sole
discretion of the Lenders.