Excerpt from Baxa hearing held today
JAMES M. MARLAR
Reporter / ECR: LATOSHA PERKINS
Courtroom Clerk: CINDY TURNBULL
Bankruptcy Judge:
Date / Time / Room:
Case Number: 4:12-BK-02402-JMM Chapter: 11
Debtor: CDEX INC.
Hearing Information:
MONDAY, APRIL 02, 2012 10:30 AM COURTROOM 329
0.00
Matter:
EXPEDITED HEARING RE DEBTOR'S MOTION FOR ORDER ALLOWING DEBTOR TO RETURN FUNDS IN
ESCROW ACCOUNT
R / M #: 21 / 0
Appearances:
ERIC SLOCUM SPARKS, ATTORNEY FOR CDEX INC.
JEFF SKLAR, ATTY GEMINI MASTER FUND, LTD., APPEARING BY PHONE
ELIZABETH AMOROSI, ATTY U. S. TRUSTEE, APPEARING BY PHONE
Proceedings:
MR. SPARKS STATES HE FEELS THE DEBTOR HAS SATISFIED THE SECURITIES AND EXCHANGE COMMISSION'S REQUIREMENTS. HE
EXPLAINS THE MOTION AND STATES THERE HAVE BEEN NO OBJECTIONS.
THE COURT STATES ITS CONCERNS. DOES BAXA NEED THE FUNDS RIGHT AWAY, OR CAN THE MONEY BE INCLUDED IN A PLAN AND
NOTICED OUT? THIS COULD BE THE DEBTOR'S MONEY, THE PARTIES SHOULD MOVE A LITTLE SLOWER ON THIS MATTER. WHY NOT
PUT THIS INTO A PLAN? THIS IS A PUBLICLY HELD CORPORATION.
MR. SPARKS WANTS TO UPLOAD THE ESCROW AGREEMENT. HE HAS NOTICED ALL OF THE INTERESTED CREDITORS, AND THERE ARE
PROBABLY 50 OR SO PARTIES. A CONTINUANCE IS REQUESTED.
MS. AMOROSI STATES SHE WILL LOOK AT THIS AS WELL.
MR. SKLAR STATES HE HAS NOTHING TO ADD, AND IS FINE WITH A CONTINUANCE.
COURT: THIS MATTER WILL BE CONTINUED TO MAY 1, 2012 AT 9:15 A.M. (15 MIN.) THE PARTIES ARE FREE TO SUBMIT BRIEFS.
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Case 4:12-bk-02402-JMM Doc 48 Filed 04/02/12 Entered 04/03/12 1
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