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Bankruptcy
: Georgia Bankruptcy BlogPike Nurseries Seeks Court Approval For Sale of Assets
By Scott Riddle
Pike Nursery Holding, LLC, which filed a Chapter 11 petition in November 2007, fled a motion seeking Court approval to sell assets free and clear of liens, claims and encumbrances, and to establish procedures with respect to the sale. (click here for motion). A purchaser was not identified in the motion, but the motion contemplates an initial offer, or "stalking horse," with an opportunity for other potential purchasers to submit hither and better offers for some or all assets. The motion states that a sale of assets is in the best interests of the Bankruptcy estate, and if approved, the procedures requested will speed up the process when a potential purchaser or purchasers are identified.
Full post as published by Georgia Bankruptcy Blog on February 02, 2008 (boomark / email).
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