The Court-Appointed Receiver brought a motion seeking approval of its activities, approval of the sale of certain farm properties, a vesting order, and a sealing order for confidential appendices.
The respondents opposed the sale, arguing the properties were sold below market value and could be severed for a higher price.
Applying the Soundair principles, the court found the Receiver acted appropriately, obtained a purchase price 128% above the appraised value, and did not act improvidently.
The court approved the sale, the Receiver's activities, and granted the sealing order to protect the market integrity of the properties.
