The court moved Pecus ARG’s sale process from proposal to execution by entering the bidding procedures order. The order approved bidding procedures, the form asset purchase agreement, auction and sale-hearing scheduling, assumption-and-assignment procedures for executory contracts and unexpired leases, and related sale notices.

That matters because the case’s value path now runs through a court-approved sale process rather than open-ended restructuring negotiations. The debtors had sought authority to sell assets under an asset purchase agreement and, in the same sale motion, requested authority for a sale free and clear of liens and claims together with contract and lease transfers sale motion. Professionals tracking landlords, vendors, contract counterparties, and secured-creditor recoveries should treat the approved procedures as the operative framework for objections, qualified bids, auction participation, and sale approval strategy.