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Showing posts in Credit Bidding

Fisker’s Capped Credit Bidder is Denied Interlocutory Appeal and Direct Certification to the Third Circuit

Hybrid Tech Holdings, LLC v. Official Committee of Unsecured Creditors (In re Fisker Automotive Holdings, Inc.), No. 14-99 (GMS), 2014 WL 546036 (D. Del. Feb. 7, 2014); Hybrid Tech Holdings, LLC v. Official Committee of Unsecured Creditors (In re Fisker Automotive Holdings, Inc.), No. 14-99 (GMS), 2014 WL 576370 (D. Del. Feb. 12, 2014)

Chief Judge Sleet of the District Court has denied the emergency request of Hybrid Tech Holdings, LLC (“Hybrid”) for leave to appeal the Bankruptcy Court’s order capping for cause Hybrid’s credit bid as well as Hybrid’s emergency request for… Read More

Credit Bidding Limited For Cause Under Section 363(k)

In re Fisker Automotive Holdings, Inc., et al., No. 13-13087 (KG), 2014 WL 210593 (Bankr. D. Del. Jan. 17, 2014)

In a ruling from the bench that was followed by this Memorandum Opinion, the Bankruptcy Court limited a secured creditor’s entitlement to credit bid for cause pursuant to section 363(k) of the Bankruptcy Code.  More specifically, the $75 million bid of Hybrid Tech Holdings, LLC (“Hybrid”), the debtors’ senior secured lender holding approximately $168.5 in claims, was reduced by the Bankruptcy Court to $25 million, the amount Hybrid purchased its claims… Read More