Interesting Document in Bankruptcy filed today

Bobpantax

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Docket #1370

5/20/2009 Motion to Approve /Motion of Debtors and Debtors in Possession, Pursuant to Sections 105, 363 and 365 of the Bankruptcy Code, for an Order Approving Procedures to Sell or Transfer Certain De Minimis Assets, Free and Clear of Liens, Claims and Encumbrances, and to Pay Market Rate Broker Commissions in Connection With Such Sales Without Further Court Approval, together with the Notice of Hearing thereto filed by Corinne Ball on behalf of Chrysler LLC. with hearing to be held on 6/3/2009 at 11:00 AM at Courtroom 523 (AJG) Responses due by 5/29/2009, (Ball, Corinne) Debtor:Chrysler LLCRelated:none

It seems to me that the Viper Enterprise might constitute de minimus assets if the deal is to assume the supplier contracts and certain other liabilities associated with the Viper Enterprise plus the payment of an amount less than $15 million. What do you think?
 

Viperless

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Client Home Go to the web site and read this:

Docket #1370

5/20/2009 Motion to Approve /Motion of Debtors and Debtors in Possession, Pursuant to Sections 105, 363 and 365 of the Bankruptcy Code, for an Order Approving Procedures to Sell or Transfer Certain De Minimis Assets, Free and Clear of Liens, Claims and Encumbrances, and to Pay Market Rate Broker Commissions in Connection With Such Sales Without Further Court Approval, together with the Notice of Hearing thereto filed by Corinne Ball on behalf of Chrysler LLC. with hearing to be held on 6/3/2009 at 11:00 AM at Courtroom 523 (AJG) Responses due by 5/29/2009, (Ball, Corinne) Debtor:Chrysler LLCRelated:none

It seems to me that the Viper Enterprise might constitute de minimus assets if the deal is to assume the supplier contracts and certain other liabilities associated with the Viper Enterprise plus the payment of an amount less than $15 million. What do you think?

I think I don't understand a word of it. Can you splain it in a simpler way for us non legal types?
 

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