Use, Sale, or Lease of Property

(a) Motion to Sell Free and Clear Under § 363(f). A motion seeking authority to sell property under § 363(f) must: (1) attach a copy of any purchase agreement; (2) attach a proposed order granting the motion; (3) if seeking approval of sale or bidding procedures, attach the proposed procedures and a proposed order approving the procedures; 30 (4) begin with a concise statement of the relief requested that lists or summarizes – and sets out the location in the proposed order and purchase agreement of – all material provisions of the proposed transaction, including: (A) (B) the identity of the purchaser, if any, and whether the purchaser is an insider of the debtor; closing the terms of the sale, including the price, closing date, and any warranties, or arrangements with a proposed purchaser, and proposed transfer free and clear of liens, claims, encumbrances, possessory interests, leasehold interests, licenses, or other rights; interim agreements conditions, (C) whether the sale is subject to higher and better offers and, if so, (i) (ii) the requirements for any competing bids, including any minimum deposit, documentation requirements, or other qualifying conditions; and the proposed auction terms, including the auction date, minimum bidding increments, initial overbid amount, and proposed last date for submitting competing bids; and identify any purchaser protections, including any proposed breakup fee, expense reimbursement, or matching rights; identify any agreements employment of management or key employees; concerning compensation or future identify any provisions releasing, waiving, or transferring any potential claims of the estate; disclose whether the sale includes the transfer of personally identifiable information under § 363(b)(1); identify all known potential lienholders or interest holders, including the nature and extent of their liens or interests and whether those liens or interests are disputed; and (5) (6) (7) (8) (9) (10) include a statement setting forth the need for any expedited hearings, together with proposed dates, deadlines, or other milestones. (b) Use, Sale, or Lease of Property on Negative Notice. (1) By Notice.

Notice under Bankruptcy Rule 6004(a) and § 363(b) of a proposed use, sale, or lease of property not in the ordinary course of business may be served on 21 days’ negative notice by including 31 immediately beneath the title of the notice the following bulletin in bold print: Under Bankruptcy Rule 6004 and Local Rule 6004-1(b)(1), this proposed use, sale, or lease may be approved without a hearing or order if no objection to the use, sale, or lease is filed within 21 days from the date of service of this notice. (2) By Motion. (A) Required Bulletin. A motion under Bankruptcy Rule 6004(a) and § 363(b) to approve a proposed use, sale, or lease of property not in the ordinary course of business – other than under §§ 363(f), (g), or (h) – may be served on 21 days’ negative notice, by including immediately beneath the title of the motion the following bulletin in bold print: Under Bankruptcy Rule 6004 and Local Rule 6004-1(b)(2), this proposed use, sale, or lease may be approved without a hearing if no objection to the use, sale, or lease is filed within 21 days from the date of service of this motion.

(B) Proposed Order. Any motion under (b)(2)(A) must attach a proposed form of order approving the use, sale, or lease of property. (C) Procedure After Expiration of Notice Period. If no objection to a motion under (b)(2)(A) is timely filed, the trustee may submit a proposed order that includes the following language in the order’s preamble: “and the movant by submitting this form of order represents that the motion was served on all required parties, that the 21-day response time provided by Local Rule 6004-1(b)(2) has expired, that no one has filed a response to the motion, and that the form of order was attached as an exhibit to the motion.” 32 Rule 6006-1.

Assuming, Rejecting, or Assigning an Executory Contract or Unexpired Lease (a) Deadline to File a Claim Arising from Rejection of an Executory Contract or Unexpired Lease. Unless the court orders otherwise, a proof of claim for a claim that arises from the rejection of an executory contract or an unexpired lease must be filed no later than the latest to occur of: (1) the time to file a proof of claim under Bankruptcy Rule 3002(c) or Local Rule 3003-1; (2) 28 days after entry of an order: (A) approving the rejection of an executory contract or unexpired lease; (B) confirming a chapter 11 plan that provides for the rejection of an executory contract or unexpired lease; (C) deeming an executory contract or unexpired lease rejected; or (D) determining that an executory contract or unexpired lease has been rejected; and (3) 28 days after the effective date of the rejection of an executory contract or unexpired lease. (b) Required Bulletin in Proposed Order. A proposed order under (a)(2) must include the following language in bold print: Any proof of claim for damages arising from the rejection must be filed no later than the latest to occur of: (1) the time to file a proof of claim under Bankruptcy Rule 3002(c) or Local Rule 3003-1; (2) 28 days after entry of this order; or (3) 28 days after the effective date of the rejection.