Neumann Homes' hearings for DIP loan, bidding procedure approval further delayed

By Jennifer Lanning Drey

Portland, Ore., May 14 - Neumann Homes, Inc.'s hearing for approval of its debtor-in-possession financing was continued to June 11, according to a court source with the U.S. Bankruptcy Court for the Northern District of Illinois.

Additionally, the hearing for approval of the bidding procedures related to Neumann's asset sale arrangement with Comerica Bank was continued to the same date.

Both hearings were originally scheduled for April 23, but pushed back to May 14, when the court further continued the hearings.

Neumann Homes, a Warrenville, Ill.-based homebuilder, filed for bankruptcy on Nov. 1, 2007. Its Chapter 11 case number is 07-20412.

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