Neumann Homes hearing for DIP, bidding procedure approvals delayed

By Jennifer Lanning Drey

Portland, Ore., Sept. 3 - Neumann Homes Inc.'s hearings for approval of its $2.5 million debtor-in-possession financing and approval for the bidding procedures related to its asset sale arrangement with Comerica Bank were both pushed back, according to a court source.

The DIP hearing is now scheduled for Oct. 1, and the hearing on the bidding procedures is scheduled for Sept. 17.

Both hearings were most recently scheduled for Wednesday in the U.S. Bankruptcy Court for the Northern District of Illinois.

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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