On June 9, 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 American Spectrum Realty Inc. (Involuntary) and its affiliates.
The filing was assigned docket number 923 and is described on the court’s official docket as follows:
Motion For Sale of Property of the Estate under Section 363(b) – No Fee Motion For Order Authorizing: (A) The Debtor To Cause Affiliates Of The Debtor To (1) Sell Real Properties; (2) Sell Personal Property And Assign Certain Contracts Associated With The Operation Of Such Real Properties; And (3) Terminate Management Contract; (B) The Debtor To Cause Affiliate Of The Debtor To Compromise Claims Of Secured Lender With Respect To Such Real Properties; And (C) Settlement With Tenants In Common Regarding Disposition Of Net Proceeds From The Sale Of Such Real Properties; Memorandum Of Points And Authorities Filed by Debtor American Spectrum Realty Inc., a Maryland Corporation (Opera, Robert) (Entered: 06/09/2016)
American Spectrum Realty Inc. (Involuntary) filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on February 13, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the Central District of California . The case number for the lead bankruptcy case is 15-10721. The bankruptcy case is currently assigned to United States Bankruptcy Judge Scott Clarkson. The law firm of Fuqua & Associates, PC is acting as lead bankruptcy counsel to American Spectrum Realty Inc. (Involuntary) in the bankruptcy case.