Velera Energy LLC withdrew its stalking-horse bid following the July 15 hearing, leaving Freedom Forever without a designated stalking horse or baseline transaction. The debtors’ second amended hearing agenda says a negotiated revision resolved the previously filed bidding-procedure objections, subject to the U.S. Trustee’s remaining concern over the retention of Robert Pincus.

Under the further revised bidding procedures, Pincus would hold sole decision-making authority to evaluate, oversee and approve or reject potential asset sales, and the unsecured creditors’ committee supports the revised order. Insider bids are due July 24 at 5:00 p.m. ET, other qualifying bids July 27 at 5:00 p.m., and any auction will occur July 28 at 10:00 a.m.; sale objections are due July 30, followed by a July 31 sale hearing. The withdrawal removes the proposed insider transaction while preserving an accelerated process, giving competing bidders only days to submit binding offers and shifting sale oversight away from management.