Centaur Trustee Fights Breakup Fee For $8M Asset Sale

Law360, New York (July 8, 2010, 2:12 PM EDT) -- Centaur LLC's plan to offer a breakup fee in connection with the $7.5 million sale of its Colorado assets has come under fire from the U.S. trustee, who claims the move runs afoul of case precedent holding that such fees can't be used to give a favored purchaser an advantage over other bidders.

In a filing Wednesday in the U.S. Bankruptcy Court for the District of Delaware, U.S. Trustee Roberta A. DeAngelis said the debtor's plan is out of line with a 1999 U.S. Court of...
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