World Health Alternatives, Inc.(fka WHAIQ)

[ultimatepick]

Here is an excellent article that explains the ins and outs of a 363 sale. It is so damn obvious what WHAI is doing by selling to Jackson Healthcare Staffing. It should be easy to prove in court that the sale was not in good faith.
Thoughts anyone?

http://www.abanet.org/buslaw/blt/2004-09-10/dilaura.shtml


To confirm a sale, the bankruptcy court must find:
• a "sound business purpose," or "cause,"
• accurate and reasonable notice of the sale was provided,
• the price paid is adequate (that is, fair and reasonable).
In addition, a finding that the sale was conducted in "good faith" (that is, there is an absence of any lucrative deals with insiders or collusion) also protects the purchaser in event of a subsequent appeal.