NetVersant Sale Date OK'd Despite Trustee's Protest

Law360, New York (December 5, 2008, 12:00 AM EST) -- The judge presiding over NetVersant Solutions Inc.'s Chapter 11 case has approved the asset-sale schedule proposed by the debtors, dismissing objections by the U.S. trustee overseeing the proceedings, who had argued that the timing favored lenders at the expense of unsecured creditors.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware issued an order Thursday approving NetVersant's request to conduct an auction of its assets Dec. 17, saying the network infrastructure company had presented “good and sufficient reasons” for the date....
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