In re Compute North Holdings, Inc., No. 22-90273 (Bankr. S.D. Tex.)
- The bankruptcy court approved a portion of proposed bid procedures for the sale of Compute North.
- Debtors sought an expedited sale timeline, with bids due by October 27, 2022, but the Compute North UCC objected. The parties agreed the sale timeline would be addressed at an October 21 hearing.
- Compute North contractual counterparties objected, seeking favorable carveouts and clarifications in the approved sale procedure, which were also pushed to the October 21 hearing.
- Other provisions of the sale procedure were approved including bid protections for a stalking horse and contract assumption notice procedures.
Continue Reading Sale Procedures for 363 Sale of Compute North Partially Approved With Timing of Sale to Be Addressed at Supplemental Hearing