On November 24, 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 Sears Methodist Retirement System, Inc. and its affiliates.
The filing was assigned docket number 584 and is described on the court’s official docket as follows:
Motion to sell / Motion Of Debtor Sears Tyler Methodist Retirement Corporation For Orders (I) (A) Authorizing And Approving Bid Procedures To Be Employed In Connection With The Proposed Sale Of Substantially All Of The Assets Of The Debtor; (B) Approving Certain Bid Protections; (C) Scheduling An Auction, Sale Hearing And Related Deadlines Thereto; (D) Authorizing And Approving The Assignment Procedures To Be Employed In Connection With The Identification, Assumption And Assignment Of Certain Contracts And Leases; And (E) Approving The Manner And Form Of Notice Of The Auction, Sale Hearing And Assignment Procedures; And (Ii) Authorizing (A) The Sale Of Assets Free And Clear Of Liens, Claims, Encumbrances And Interests, Subject To Higher And/Or Otherwise Better Offers And (B) Granting Related Relief Fee amount $176, Filed by Debtor Sears Methodist Retirement System, Inc. (Attachments: # (1) Exhibit A # (2) Exhibit B # (3) Exhibit C) (Slusher, Vincent)
Sears Methodist Retirement System, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on June 10, 2014. The bankruptcy case is pending before the United States Bankruptcy Court for the Northern District of Texas . The case number for the lead bankruptcy case is 14-32821. The bankruptcy case is currently assigned to United States Bankruptcy Judge Stacey Jernigan. The law firm of DLA Piper US LLP is acting as lead bankruptcy counsel to Sears Methodist Retirement System, Inc. in the bankruptcy case.