Multiple parties – including Oracle America, Machado San Antonio Partners, Acadia Realty Limited Partnership, Brixmor Property Group, CenterCal Properties, Federal Realty Investment Trust, UBS Realty Investors, Weingarten Realty Investors and Bushnell Holdings – filed with the U.S. Bankruptcy Court separate objections to Golfsmith International Holdings’ motion for an order approving bidding procedures for the sale of substantially all of Debtors’ assets, scheduling an auction for and hearing to approve the sale of the Debtors’ assets and approving the sale of substantially all of the Debtors’ assets free and clear of liens, claims, interests and encumbrances.
Oracle America asserts, “Oracle objects to the proposed assumption and assignment as follows: The Assumption Notice does not adequately describe the contracts the Debtors seek to assume and assign, preventing Oracle from evaluating the Debtors’ proposed cure amount. In addition, based on the limited information provided, Oracle is unable to determine whether the agreements at issue are assignable….Also the Sale motion provides insufficient information to determine whether the purchaser/assignee is capable of performing the terms of the contracts the Debtors seek to assume and assign or even if the proposed assumption and assignment are part of a Going-Concern sale transaction.”
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