Nevada Copper Corp NEVDQ

Finally!

[patchh]

this is cheezie to read...  they are jamming the UST and their clerks...

they' (think of it as  them - hard not ooo)  tried to get 3% of their bid...


Finally, the Stalking Horse Bid Protections are limited in the Motion, Order, and
Procedures to three percent of the Purchase Price. Motion ¶ 21, 38; Exhibit 1 ¶ 16; Exhibit A
p. 13. The U.S. Trustee’s insistence that the Stalking Horse Bid Protections be limited specifically
to three percent of the cash component of the Stalking Horse Bidder’s bid (rather than the full
Purchase Price) seems not to be grounded in any legal or other authority.9 In any event, it seems
9 The U.S. Trustee cites to a single case, In re Cottonwood Fin., No. 24-80035 (SWE), 2024 Bankr. LEXIS 718, at
*42 (Bankr. N.D. Tex. Mar. 21, 2024) where the break-up fee was limited to the cash component of the
transaction, but provides no analysis as to why this one example is controlling or even persuasive precedent under
the circumstances of these Chapter 11 Cases. The break-up fee used in that case is simply a fact of that case.
Without some underlying legal principle to guide the Court in its decision-making process, it is irrelevant.
Case 24-50566-hlb Doc 368 Entered 07/12/24 17:19:59 Page 11 of 16

premature to limit the Stalking Horse Bid Protections in such a way at this stage of the process.
Furthermore, bankruptcy courts in this and other jurisdictions approve break-up fees of up to (or
over) three percent in the context of complex sale transactions under section 363 of the Bankruptcy
Code.10 In sum, all of the U.S. Trustee’s concerns with the Stalking Horse Bid Protections are
either addressed in the Motion or are addressed more appropriately at a later time. Accordingly,
the UST Objection should be overruled.