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Life Partners Holdings 363 Sale Approval Sought

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According to the U.S. Bankruptcy Court docket, Life Partners Holdings’ Chapter 11 trustee, H. Thomas Moran II, filed an expedited motion to approve sale of certain ice age specimens, fossils, and replicas (the Ice Age Collection).

The motion explains, “Through this Motion, Seller seeks approval to sell the Ice Age Collection to GeoDecor, (the ‘Ice Age Purchaser’)…. As reflected in the Sale Agreement, the Ice Age Collection shall be sold ‘as is, where is,’ with no representation or warranty of any kind, except that the property shall be sold free and clear of all liens, claims, interests and encumbrances under 11 U.S.C. section 363(f). In exchange, the Ice Age Purchaser will pay the Seller the sum of $634,000 in cash. The Ice Age Purchaser is to provide $60,000 in earnest money, and the transaction is set to close five business days after the Court’s entry of an order approving the sale.”

The Court scheduled a September 28, 2015 hearing on the motion. Read more Chapter 11 news.