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

On March 21, 2016, 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 Newbury Common Associates, LLC and its affiliates.

The filing was assigned docket number 411 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)(FEE) – Motion for Entry of (A) Order (I) Scheduling a Hearing to Consider Approval of the Sale or Sales of the Debtors’ Assets, and the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases, (II) Approving Certain Bidding Procedures, Assumption and Assignment Procedures, and the Form and Manner of Notice thereof, and (III) Granting Related Relief; and (B) One or More Orders (I) Approving the Sales or Other Acquisition Transactions for the Properties, (II) Authorizing the Sales Free and Clear of All Encumbrances, (III) Authorizing the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases, and (IV) Granting Related Relief Fee Amount $176 Filed by Newbury Common Associates, LLC. (Attachments: # (1) Proposed Form of Order) (Greecher, Sean)

Newbury Common Associates, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on December 13, 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 15-12507. The bankruptcy case is currently assigned to United States Bankruptcy Judge Laurie Selber Silverstein. The law firm of Dechert LLP is acting as lead bankruptcy counsel to Newbury Common Associates, LLC in the bankruptcy case.


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