Quantason, LLC Bankruptcy New Filing Alert: Motion For Authority To Sell Assets Of The Estates Pursuant To Section 363 Of The Bankruptcy Code

On April 23, 2014, a motion for authority to sell assets of the estates pursuant to section 363 of the Bankruptcy Code was filed in the bankruptcy case of Quantason, LLC and its affiliates.

The filing was assigned docket number 3 and is described on the court’s official docket as follows:

Motion For Sale of Property Free and Clear of Liens under Section 363(f) – Motion of the Debtor and Debtor in Possession Pursuant to Sections 105(a), 363 and 365 of the Bankruptcy Code for an Order (I)(A) Approving Procedures in Connection with the Sale of Substantially All of the Debtor’s Assets; (B) Scheduling the Related Auction and Hearing to Consider Approval of Sale; (C) Approving Procedures Related to the Assumption of Certain Executory Contracts and Unexpired Leases; (D) Approving the Form and Manner of Notice Thereof; and (E) Granting Related Relief; and (II)(A) Authorizing the Sale of Substantially All of the Debtor’s Assets Pursuant to the Successful Bidder’s Asset Purchase Agreement Free and Clear of Liens, Claims, Encumbrances, and Other Interests; (B) Approving the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases Related Thereto; and (C) Granting Related Relief Fee Amount $176 Filed by Quantason, LLC. (Attachments: # 1Exhibit A – Highlighted Provisions Pursuant to Del. Bankr. L.R. 6004-1 # 2 Exhibit B – Bidding Procedures Order # 3 Exhibit C – Proposed Sale Order) (Martin, R.) (Entered: 04/23/2014)

Quantason, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on April 23, 2014. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 14-10932. The bankruptcy case is currently assigned to United States Bankruptcy Judge Peter Walsh. The law firm of DLA Piper US LLP is acting as lead bankruptcy counsel to Quantason, LLC in the bankruptcy case.

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