Court approves sale procedures with May bid and auction deadlines
The court approved AFH Air Pros’ bidding procedures and stalking-horse sale framework, establishing a May 5, 2025 at 4:00 p.m. ET bid deadline and a May 9, 2025 at 10:00 a.m. ET auction for the debtors’ assets, under the bidding procedures order. The order also approved procedures for assumption and assignment of executory contracts and unexpired leases.
The sale framework named multiple stalking-horse bidders, including Doug’s/Dream Team/Hansen, ECM, Dallas Plumbing, CM/Air Force, One Source, and Air Pros Legacy, and approved related bid protections. Sale objections were due May 5, with post-auction objections due May 13. For buyers, contract counterparties, and creditors, this order fixed the competitive process and the objection deadlines that governed asset value realization in the case.