I am a creditor and have received no notices or notification of
advertisements of the assets of the debtor company in Chapter 7. Now, I
learn that the assets will be conveyed to someone who's paying much less
for the assets than will satisfy the creditor. I happen to know of other
parties who are willing to pay substantially more for the assets, which
will result in the satisfaction of many claims and they tell me they've
known nothing of the sale.

What are the procedures for:

1) Notification of assets for sale
2) Where they have to be advertised
3) Who and what span of time before a buyer is introduced and approved
by the court.
4) How to get other buyers introduced, so that the estate yields more
5) Legal recourse

This case is in Northern Illinois. I suspect some shenanigans between
the trustee and the buyers.

Thanks

All creditors are generally required to receive notice. The exact procedures
differ from state to state.

I strongly recommend discussing this issue with an experienced bankruptcy
attorney. He or she can tell you what to do to object to the sale.

--
Brett

************************************************** ***************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@brettweiss.com *
* www.brettweiss.com *
* *
* Small Business Estates & Estate Planning *
************************************************** ***************

The Small Print: This response is for discussion purposes only. It isn't
meant to be legal advice and you shouldn't treat it as such. If you want
legal advice, speak with a local lawyer familiar with your state's laws who
can review *all* of the facts and the law applicable to your situation.
************************************************** ***************

"pkallis" <pkallis@ameritech.net> wrote in message
news:Jn7_b.16354$PY.4648@newssvr26.news.prodigy.co m... I am a creditor and have received no notices or notification of advertisements of the assets of the debtor company in Chapter 7. Now, I learn that the assets will be conveyed to someone who's paying much less for the assets than will satisfy the creditor. I happen to know of other parties who are willing to pay substantially more for the assets, which will result in the satisfaction of many claims and they tell me they've known nothing of the sale. What are the procedures for: 1) Notification of assets for sale 2) Where they have to be advertised 3) Who and what span of time before a buyer is introduced and approved by the court. 4) How to get other buyers introduced, so that the estate yields more 5) Legal recourse This case is in Northern Illinois. I suspect some shenanigans between the trustee and the buyers. Thanks