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In re Clinch Mountain Finishing & Logistics Corp. (Case No. 10-72574) 01/13/2011

            The debtor filed a motion for entry of a sale procedures order (a) approving sale of assets free and clear of all liens, encumbrances, and other interests, (b) scheduling a final hearing date, and (c) approving notice and entry of an order approving the sale free and clear of liens, interest, and other encumbrances of certain assets of the corporation.  The United States trustee filed a motion to convert the case to chapter 7 or to dismiss the case.  The Court granted the debtor’s motion upon certain conditions and denied preliminarily the United States trustee’s motion; the Court however continued the motions for a final hearing to take place promptly following either a completed sale of those assets to be sold pursuant to the debtor’s motion or the Court’s determination that the efforts to effect a sale pursuant to that Motion have failed.

Date: 
Thursday, January 13, 2011
Category: 
363 Sales
Chapter 11 Issues
Conversion and Dismissal
Chapter: 
11