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The court approved November 26/Biolase’s sale of substantially all of its assets to MegaGen Implant Co., Ltd., ending the competitive sale process and clearing the core transaction path in the case. The sale order authorizes a transfer free and clear of liens, claims, interests and encumbrances, with those interests attaching to proceeds, and grants MegaGen good-faith purchaser protections under section 363(m).
The order also approves assumption and assignment of selected executory contracts and unexpired leases, requires cure treatment for assigned contracts, and resolves the sale objections by withdrawal, settlement or overruling. Closing can proceed immediately because the court waived the Bankruptcy Rules 6004 and 6006 stays. For restructuring professionals, the case has moved from marketing and sale-risk into closing, proceeds allocation and post-sale wind-down issues, with the buyer insulated from successor-liability claims and existing creditors pushed toward the proceeds waterfall rather than the operating assets.
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