EYP Group’s recently formed committee objects to bid procedures

Chicago, May 9 – EYP Group Holdings, Inc.’s recently formed official committee of unsecured creditors filed a limited objection to the company’s bid procedures on Monday, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

The committee is working with the debtors on the bidding procedures, but time is short, so the committee has also filed a limited objection to note that it has requested some changes to the bid procedures.

Firstly, the committee wants a voice regarding said procedures and wants to be a consultation party that grants consent throughout the process.

The committee is asking for a separate deadline on the calendar (June 5) for it to object to the debtors’ proposed assumption and assignment of designated contracts and related cure amounts and the sale, other than with respect to residual objections.

The committee also wants to investigate and potentially challenge the stalking horse bidder’s security interests and claims which the stalking horse bidder purports to credit bid as a component of the consideration proffered.

Albany, N.Y.-based EYP is an integrated design firm specializing in higher education, health care, government and science & technology. It filed bankruptcy on April 24 under Chapter 11 case number 22-10367.

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