Our earlier post on Western Biomass incorrectly stated that the bankruptcy court approved the sale to American Process, Inc. Instead, the court, which had converted the case to a chapter 7 liquidation five days earlier, stated that “it is in the best interests of the estate and its creditors to allow interested parties to bid” and directed the chapter 7 trustee to “evaluate and determine whether a telephone auction between interested parties is in the estate’s best interest and proceed accordingly in the immediate future . . . .” Our corrected post can be found here.
Copyright © 2019 Weil, Gotshal & Manges LLP, All Rights Reserved. The contents of this website may contain attorney advertising under the laws of various states. Prior results do not guarantee a similar outcome. Weil, Gotshal & Manges LLP is headquartered in New York and has office locations in Beijing, Boston, Dallas, Frankfurt, Hong Kong, Houston, London, Miami, Munich, New York, Paris, Princeton, Shanghai, Silicon Valley, Warsaw, and Washington, D.C.