Sale of Property

In debtor-in-possession (DIP) proceedings, a business continues to operate under bankruptcy protection while seeking to recover financially. The sale of property refers to the process where the business may sell assets to generate cash or pay debts. This can include furniture, equipment, or real estate. The sale must often be approved by the bankruptcy court to ensure it is fair and beneficial for creditors. The goal is to maximize the value of the assets for the benefit of the company and its creditors while aiming to restructure and regain stability.