Opinion
BK No. 05-10258.
May 26, 2005
Lisa Geremia, Esq., GEREMIA DeMARCO LTD., West Warwick, Rhode Island, Attorney for Debtor.
Andrew S. Richardson, Esq., BOYAJIAN, HARRINGTON RICHARDSON, Providence, Rhode Island, Chapter 7 Trustee.
Thomas E. Carlotto, Esq., Douglas A. Giron, Esq., SHECHTMAN HALPERIN SAVAGE, LLC, Providence, Rhode Island, Attorneys for Creditor, MV Research Co., LLC.
ORDER
Heard on the Trustee's Notice of Sale of the Debtor's assets, which includes two patents and a trademark, to V.R. Industries, Inc., for $25,000 plus the payment of $17,000 to Bay Computer Associates. A hearing was held on MV Research Co., LLC's objection to the proposed sale, and the parties have filed extensive memoranda in support of their positions. Upon consideration of the record, and for the reasons argued by the Trustee at the March 24, 2005 hearing, and for the reasons advanced in his memorandum of law, Document No. 44, and his reply memorandum, Document No. 46, which are adopted and incorporated herein by reference, the Notice of Sale is APPROVED, conditionally, i.e., because MV Research Co., LLC suggests that the proposed selling price is too low, the Trustee is allowed a short period of time within which to entertain offers from either MV or any other person(s). If no higher bid is received on or before June 6, 2005, the Trustee is authorized to complete the sale to V.R. Industries, Inc., without the need for further proceedings before this Court.
After careful scrutiny, it is the opinion of the Court that, although well presented, the arguments and authorities submitted by V.R. Industries are rejected, on the ground that they are neither as persuasive nor as much on point as those advanced by the Trustee.
Enter judgment consistent with this Order.