Delaware's New Local Rule For Section 363 Sales

Law360, New York (March 28, 2008, 12:00 AM EDT) -- While amendments to the Bankruptcy Code itself garner the most attention and analysis, changes to bankruptcy rules of procedure can be just as important to practitioners.

Following the significant revisions to the Federal Rules of Bankruptcy Procedure that went into effect on Dec. 1, 2007, the Delaware Bankruptcy Court recently adopted amended Local Rules on Feb. 1, 2008, including meaningful changes to the procedural rules affecting Bankruptcy Code Section 363 sales of assets.

Under new Delaware Local Rule 6004-1 (the “Rule”), a party seeking approval for...
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