Sale of Mineral Interests

Minimum bid is $1,000.00 and the buyer must pay a nonrefundable $176.00 filing fee.  All offers received by 5:00 p.m. (CDT) February 15, 2016 will be considered, except offers which include a break-up fee component.  The Trustee will not consider any bids that include a break-up fee component.  The sale of the Mineral Interests is "as is, were is", without representations or warranties of any kind, express or implied.  The conveyance of Mineral Interests will be by non-recourse assignment.  All funds received by the Bankruptcy Estate prior to the date of the Trustee’s acceptance, subject to Bankruptcy Court approval, will remain property of the Bankruptcy Estate.

 
The purchase funds and nonrefundable filing fee from the successful bidder must be received by the Trustee before the Trustee will file the appropriate motion to sell with the bankruptcy court subject to all liens, claims, encumbrances and interests.   Funds must be received no later than five (5) business days after notice from the Trustee of the successful bid.  If the sale is not approved by the bankruptcy court, such purchase funds will be returned to the potential buyer within five (5) business days of the date the order not approving the sale is entered by the bankruptcy court.
 
All persons making an offer will be given notice of the initial highest bid and be given 48 hours to make an overbid.  Notices will continue until there is a final high bid.  Sale is subject to court approval.   
 
All written offers must be submitted to the attention of the Trustee's Assistant, Turea Simpson at [email protected] no later than 5:00 p.m. (CDT) February 15, 2016.