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B-6004-1. SALE OF ASSETS OUTSIDE THE ORDINARY COURSE PURSUANT TO 11 U.S.C. §363: GENERALLY

(a)   Applicability of Local Rule

This rule applies to any motion to approve the sale of assets, outside the ordinary course of business, pursuant to 11 U.S.C. §363 (the “Motion to Sell”), including motions filed by a trustee or a Debtor. This rule, and B-6004-2 through B-6004-5, do not apply to sales proposed as part of a Chapter 11 plan.

(b)   Employment and Compensation of Professionals

Except as otherwise permitted by Local Rule 6004-3, the movant shall file a separate application to employ, and a separate application to compensate, any broker, auctioneer, or other professional to be retained to assist with any sale. The retention of liquidators, auctioneers, and appraisers is also governed by Local Rule B-6005-1. No payment shall be made to any professional before the Court has entered an order approving compensation and reimbursement of expenses.

(c)   Sale of Co-Owned Property 

Before filing a Motion to Sell co-owned property, the party proposing the sale shall comply with Local Rule B-7001-2. 

(d)   Procedure; Contents of Motion; Notice 

Unless otherwise ordered, any Motion to Sell shall follow the procedures outlined in and provide the information required by Local Rules B-6004-2 through B-6004-5, depending on the type of sale.