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

On February 24, 2015, 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 ProNerve Holdings, LLC and its affiliates.

The filing was assigned docket number 16 and is described on the court’s official docket as follows:

Motion to Approve Debtors’ Motion for Entry of (A) a Bidding Procedures Order (I) Approving the Bidding Procedures, (II) Ratifying the Sellers’ Entry into the Stalking Horse Agreement, (III) Authorizing the Payment of Stalking Horse Protections, (IV) Setting the Dates for the Bid Deadline, Auction (If Needed) and Sale Approval Hearing, (V) Establishing Notice Procedures and Approving Forms of Notice, (VI) Approving Procedures Related to the Assumption and Assignment of Executory Contracts and Unexpired Leases and (VII) Authorizing the Sellers to File the Confidential Schedules under Seal; and (B) a Sale Order (I) Approving the Sale of the Sellers’ Assets Outside the Ordinary Course of Business, (II) Authorizing the Sale Free and Clear of All Liens, Claims and Interests, (III) Approving the Stalking Horse Agreement; (IV) Approving the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases; and (V) Granting Related Relief Filed by ProNerve Holdings, LLC. (Attachments: # 1 Exhibit A – Proposed Order # 2 Appendix 1 – Bidding Procedures # 3 Asset Purchase Agreement # 4 Exhibit A to APA – Form of Sale Order # 5 Exhibit B to APA – Bidding Procedures # 6 Exhibit C – Findings of Fact and Conclusions of Law # 7 Exhibit D – Notice of Assignment and Cure # 8 Exhibit E – Notice of Auction and Sale Approval Hearing) (Detweiler, Donald) (Entered: 02/24/2015)

ProNerve Holdings, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on February 24, 2015. 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 15-10373. The bankruptcy case is currently assigned to United States Bankruptcy Judge Kevin Carey. The law firm of McDermott Will & Emery is acting as lead bankruptcy counsel to ProNerve Holdings, LLC in the bankruptcy case.


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