GREY:XEBEQ - Post by User
Comment by
dalesio_98on Jan 09, 2023 10:15pm
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Post# 35212555
RE:RE:New report is out Jan 9 - Sale of US assets approved
RE:RE:New report is out Jan 9 - Sale of US assets approved K. The Bidding Procedures set February 7, 2023, as the “Outside Date” by which a transaction must close.
L. Should the Canadian Court enter a CCAA Sale Order, the Foreign Representative intends on promptly filing a motion with this Court (a “U.S. Sale Motion”) seeking, among other things: (a) approval of the sale(s) pursuant to section 363 of the Bankruptcy Code, to the extent such sale(s) contemplates the sale of assets located in the United States; and (b) recognition and enforcement of such CCAA Sale Order.
M. The Debtors will have a need to close a sale on an expedited timeframe following entry of a CCAA Sale Order.