The applicant, as Note Trustee of the Maple Trust, brought a motion for an order approving a marketing and sale process for the trust's assets following an Event of Default.
The motion was contested by a party who argued that any sale must obtain prior court approval.
The court approved the sale process but ordered that it include a provision requiring prior court approval for any transaction, applying the Soundair principles, to ensure the best possible price is obtained without unnecessary delay.
