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In re Antaeus Technical Services (Case No. 99-02114) 12/6/2005

Trustee's motion to establish bidding procedures for sale of certain patents and other assets of the debtor approved generally.  A modification of a contract entered into by the trustee on behalf of the creditors of the bankruptcy estate after obtaining approval of the Court after a hearing upon notice to the creditors which substantially and adversely affects the rights of those creditors under that contract required approval of the Court obtained after notice to the creditors and an opportunity to be heard.  Extension of the deadlines in the settlement agreement after the two critical deadlines had already expired was the type of modification which required notice to the creditors and court approval to be effective.

Date: 
Tuesday, December 6, 2005
Category: 
Credit Bidding
Notice and Opportunity
Chapter: 
7