Not really sure where this case is going anymore, but this was in the motion to extend time to reject exec. contracts yesterday. Depending on how the Bechtel executory contract is handled, there wouldn't necessarily need to be much cash from either a sale or the lawsuit to put equity in the money.
13.
Many of the
Debtors’ executory contracts pertain to intellectual property and may have terms that run into the future for a substantial number of years. The immediate assumption
of such contracts would require the Chapter 7 Trustee to take certain costly future actions,
including payment to maintain certain intellectual property that underlie
the executory contracts.
It would be impractical and unnecessary for the Chapter 7 Trustee
in a Chapter 7 bankruptcy
case to assume the contracts for the full contract terms or to agree to pay all required intellectual
property fees while the Chapter 7 Trustee is still assessing the assets in these Estates
and
negotiating with a stalking horse bidder. Likewise, a rejection of valuable contracts at this time
could result in a reduction in the value of the Estate’s assets.
14.
Given that the Chapter 7 Trustee is
seeking a purchaser of substantially all of the
Debtors’ assets,
the Chapter 7 Trustee makes this request to extend his time to assume or reject
executory contracts and unexpired leases of personal property
