US Trustee Slams Metavation's Plans For Quick Ch. 11 Sale

Law360, Wilmington (August 2, 2013, 8:08 PM EDT) -- The U.S. Trustee's Office on Friday blasted the strategy by Revstone Industries LLC's bankrupt affiliate Metavation LLC to turnaround a quick $25 million stalking horse sale, arguing the timetable leaves no room for anyone else, even potential bidders, to participate in the process.

In an objection filed in Delaware bankruptcy court, U.S. Trustee Roberta A. DeAngelis contended that the calendar Metavation is envisioning to have a sale approved by the court — 16 days after a judge approves bidding procedures — is much too short to...
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