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Cache Objections Filed

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According to the U.S. Bankruptcy Court docket, multiple parties – including Travis County, Maricopa County Treasurer and Aetna Life Insurance – filed with the U.S. Bankruptcy Court separate objections to Cache’s motion for entry of an order: (i) dismissing the Debtors’ cases (ii) authorizing the destruction, abandonment or other disposal of remaining records and documents and (iii) granting related relief.

Maricopa County Treasurer asserts, “Maricopa County was not listed on the Certificate of Service at DE 44 relating to the Motion nor was Maricopa County listed on the service list for the Notice of Hearing at DE 71. Therefore, the Treasurer was not given proper notice to allow it to object to the sale. Further, the Treasurer’s Secured Claim should have been paid from the proceeds of the sale of the Debtor’s assets. It was not, and the Motion to Dismiss does not provide for payment of the Secured Claim. The Sale Motion provided that the tax liens would attach to the sale proceeds, or at a minimum, the guaranteed amount…. If the sale were to render that lien meaningless, i.e., the sale was structured in such a manner that there would be no proceeds to which the Treasurer’s lien would attach, the Treasurer should at the very least have been given proper notice of the sale. Further, the representation to the Court regarding section 363(f) was insufficient if the proceeds to which the liens would attach were insufficient to pay all liens.”

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