In the Matter of New Energy Corporation

Bankruptcy Ct. did not err in approving auction sale of certain assets of debtor for $2.5 million, where only objector to said sale was potential buyer of assets. Potential buyer lacked standing to object to instant sale, where it had not participated in auction, since: (1) it could not have obtained debtor’s assets regardless of what other bidders had done; and (2) potential buyer was not creditor for purposes of receiving any reduced payment as result of instant sale. Moreover, potential bidder’s bare claim that two other bidders had formed joint venture was insufficient by itself to establish any forbidden collusion.