Multiple parties – including RLI Insurance Company, Atlantic Specialty Insurance Company and Argonaut Insurance Company – filed with the U.S. Bankruptcy Court separate objections to SunEdison’s motion for an order authorizing and approving procedures for (a) the sale or transfer of assets of non-Debtor subsidiaries; (b) the sale or transfer of de minimis assets and (c) taking corporate action in connection therewith.
RLI Insurance Company asserts, “While RLI does not object to the establishment of procedures for the sale of assets and de minimis assets, RLI objects to the form of the proposed sales procedures as follows: (a) to the extent the proposed procedures fail to provide adequate notice to sureties, including RLI, who have issued bonds on behalf of the Debtors and/or non-debtors and who may be affected by the sales or abandonments and (b) fails to provide reasonable and adequate notice and opportunity to parties in interest to object to a proposed sale transaction.”
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