Nostrum Laboratories, Inc.

Following the July 14 hearing, the court granted Chapter 7 trustee Jeffrey A. Lester 90 days from the order’s July 15 entry to assume or reject Nostrum’s executory contracts and unexpired personal-property leases. The final extension order replaces the interim bridge protection and preserves the trustee’s right to seek another extension.

Lester’s extension motion said Nostrum converted from Chapter 11 to Chapter 7 on May 5 and that he needed time to examine the debtor’s records and conduct Rule 2004 discovery. Although substantially all assets were sold during Chapter 11, the motion said the treatment of remaining contracts and leases under those transactions was unclear. The extension gives Lester additional runway to determine whether any retained contractual rights can generate value for creditors rather than being deemed rejected before that review is completed.