Lee Steel Corporation Bankruptcy New Filing Alert: Motion For Authority To Sell Assets Of The Estates Pursuant To Section 363 Of The Bankruptcy Code

On May 1, 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 Lee Steel Corporation and its affiliates.

The filing was assigned docket number 85 and is described on the court’s official docket as follows:

Motion to Sell Property Free and Clear of Lien under Section 363(f) and 365, Bankruptcy Rules 2002 and 6004, and Local Rules 6004-1 and 9014-1 (A) Establishing Bidding Procedures for the Auction Sale of Substantially all of Debtors’ Assets Free and Clear of Liens, Claims and Encumbrances and Transferring Liens to Proceeds; (B) Scheduling an Auction and a Sale Hearing to Consider Approval of Sale; (C) establishing Procedures for the Assumption and Assignment of Executory Contracts; (D) Approving the Form of Asset Purchase Agreement, Form and Manner of the Auction Notice, the Form of the Notice to Non-Debtor Co-Parties to Executory Contracts, and the Notice of the Sale Hearing Fee Amount $176 Filed by Debtor In Possession Lee Steel Corporation (Gross, Stephen) (Entered: 05/01/2015)

Lee Steel Corporation filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on April 13, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the Eastern District of Michigan . The case number for the lead bankruptcy case is 15-45784. The bankruptcy case is currently assigned to United States Bankruptcy Judge Marci McIvor. The law firm of McDonald Hopkins LLC is acting as lead bankruptcy counsel to Lee Steel Corporation in the bankruptcy case.


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