Case 22-13166-PDR Doc 169 Filed 08/02/23 MOTION
Post# of 36537
(Total Views: 288)
Posted On: 08/04/2023 8:23:44 PM
Case 22-13166-PDR Doc 169 Filed 08/02/23
MOTION TO SET STATUS CONFERENCE ON OR BEFORE AUGUST 14, 2023
Marc P. Barmat (the “Trustee”) as chapter 7 trustee for Generex Biotechnology Corp. (the
“Debtor”) moves and hereby files this Motion To Set Status Conference (the “Motion”), and states
as follows:
1. The Debtor's estate's remaining primary assets are equity interests in various
entities that primarily hold intellectual property related to various biotechnology.
2. The Trustee has received certain expressions of interest from prior potential bidders
for the sale of certain of the Debtor's estate's remaining assets.
3. On April 4, 2023, the Trustee commenced an adversary proceeding to avoid a lien
perfected by Oasis Capital, LLC during the preference period that asserts a blanket lien on all
assets of the Debtor's estate. See Adv. Proceeding No. 23-01081-PDR (the "Oasis Adversary"
.
4. On April 11, 2023, the Trustee filed a Motion for Summary Judgment that was fully
briefed and oral arguments were presented to the Court at a hearing held on June 28, 2023 (the
"Summary Judgment Hearing".
5. Both parties to the Oasis Adversary provided the Court with proposed
memorandums on or about July 10, 2023.
6. The ultimate adjudication of the Oasis Adversary presents a gating issue to finalizing a potential offer for certain of the Debtor's remaining assets.
7. Upon information and belief, the Trustee asserts that the value of the Debtor's
remaining indirect interests in certain biotechnology intellectual property is subject to depreciation
as potential competing intellectual property are brought to market.
8. At the time of the Summary Judgment Hearing, the Trustee had yet to receive any
expressions of interest in Debtor's remaining assets and was thus unaware of any potential
prejudice to the Estate related to the adjudication of the Oasis Adversary.
9. Accordingly, the Trustee respectfully requests this Court schedule a status
conference on or before August 14, 2023 so that the Trustee has an opportunity to update the Court
as to the Trustee's continued sale efforts, the general status of the administration of this case, and
preview certain scheduling issues related to same.
WHEREFORE, the Trustee respectfully requests this Court set a status conference on or
before August 14, 2023 and enter such other relief as this Court deems appropriate.
Dated: August 2, 2023 Respectfully submitted,
By: /s/ Eyal Berger
Eyal Berger, Esq.
Florida Bar No.: 011069
Email: eyal.berger@akerman.com
AKERMAN LLP
201 East Las Olas Blvd., Suite 1800
Fort Lauderdale, FL 33301-2999
Tel: 954-463-2700
Fax: 954-463-2224
Counsel for Trustee
MOTION TO SET STATUS CONFERENCE ON OR BEFORE AUGUST 14, 2023
Marc P. Barmat (the “Trustee”) as chapter 7 trustee for Generex Biotechnology Corp. (the
“Debtor”) moves and hereby files this Motion To Set Status Conference (the “Motion”), and states
as follows:
1. The Debtor's estate's remaining primary assets are equity interests in various
entities that primarily hold intellectual property related to various biotechnology.
2. The Trustee has received certain expressions of interest from prior potential bidders
for the sale of certain of the Debtor's estate's remaining assets.
3. On April 4, 2023, the Trustee commenced an adversary proceeding to avoid a lien
perfected by Oasis Capital, LLC during the preference period that asserts a blanket lien on all
assets of the Debtor's estate. See Adv. Proceeding No. 23-01081-PDR (the "Oasis Adversary"
. 4. On April 11, 2023, the Trustee filed a Motion for Summary Judgment that was fully
briefed and oral arguments were presented to the Court at a hearing held on June 28, 2023 (the
"Summary Judgment Hearing"
. 5. Both parties to the Oasis Adversary provided the Court with proposed
memorandums on or about July 10, 2023.
6. The ultimate adjudication of the Oasis Adversary presents a gating issue to finalizing a potential offer for certain of the Debtor's remaining assets.
7. Upon information and belief, the Trustee asserts that the value of the Debtor's
remaining indirect interests in certain biotechnology intellectual property is subject to depreciation
as potential competing intellectual property are brought to market.
8. At the time of the Summary Judgment Hearing, the Trustee had yet to receive any
expressions of interest in Debtor's remaining assets and was thus unaware of any potential
prejudice to the Estate related to the adjudication of the Oasis Adversary.
9. Accordingly, the Trustee respectfully requests this Court schedule a status
conference on or before August 14, 2023 so that the Trustee has an opportunity to update the Court
as to the Trustee's continued sale efforts, the general status of the administration of this case, and
preview certain scheduling issues related to same.
WHEREFORE, the Trustee respectfully requests this Court set a status conference on or
before August 14, 2023 and enter such other relief as this Court deems appropriate.
Dated: August 2, 2023 Respectfully submitted,
By: /s/ Eyal Berger
Eyal Berger, Esq.
Florida Bar No.: 011069
Email: eyal.berger@akerman.com
AKERMAN LLP
201 East Las Olas Blvd., Suite 1800
Fort Lauderdale, FL 33301-2999
Tel: 954-463-2700
Fax: 954-463-2224
Counsel for Trustee
(0)
(0)Generex Biotechnology Corp. (GNBTQ) Stock Research Links
Scroll down for more posts ▼