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Premier Exhibitions Sale Denied

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The U.S. Bankruptcy Court issued an order denying Premier Exhibitions’ motion to sell certain Titanic artifacts free and clear of liens, claims and interests.

The order states, “The Debtors assert that they own approximately 5,500 artifacts from the Titanic salvage site. In the current Motion, the Debtors propose to market and sell certain items from the division of artifacts known as the French Collection, free and clear of any liens or interests….Under these circumstances, it appears that third parties, including the French Government, may assert an ‘interest’ in the French Artifacts within the meaning of section 363 (f) and Rule 7001. Accordingly, the Debtors’ request to market and sell the French Artifacts free and clear of ‘any interest’ in the property should be filed as an adversary proceeding under Rule 7001.”

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