Bankruptcy Trustee of Estate of MRU Holdings, Inc. to Sell Estate's Interest in Subsidiary

April 8, 2010 - PRLog -- UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
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In re:                  
                                                                                               Chapter 7
MRU HOLDINGS, INC.               
                                                                                               Case No. 09-10530 (AJG)
      Debtor.         
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BANKRUPTCY TRUSTEE OF ESTATE OF MRU HOLDINGS, INC. TO SELL ESTATE’S RIGHT, TITLE, AND INTEREST, IF ANY, IN MRU FUNDING SPV, INC.

Date:  April 8, 2010

   Ian J. Gazes as the Chapter 7 Trustee (the “Trustee”) of the Estate of MRU Holdings, Inc. (the “Estate”), Case No. 09-10530 (AJG) pending in the United States Bankruptcy Court for the Southern District of New York has noticed the sale of the following asset:  all of the Estate’s right, title, and interest, if any, in and to MRU Funding SPV, Inc. (the “Asset”).

   The following is a description of the Asset.  Upon information and belief the Asset is a special purpose vehicle consisting of (a) a pool of student loans foreclosed upon by Merrill Lynch Bank USA on or about June 3, 2009 pursuant to a Notice of Strict Foreclosure, and (b) approximately 95 student loans.  The initial bid for the Asset is $50,000.

   The sale will take place on April 27, 2010 at 11:00 a.m. at the offices of the Trustee, Gazes LLC, 32 Avenue of the Americas, 27th floor, New York, New York  10013.  The sale will be an auction and is open to the public.

   A complete copy of the sale motion and exhibits may be accessed by contacting the Trustee’s office or by reviewing same on the Court’s electronic docket at www.nysb.uscourts.gov or by examining the documents at the Clerk’s office, 5th floor during the Court’s business hours at the United States Bankruptcy Court, One Bowling Green, 5th Floor, New York, New York  10004.  Any questions regarding the sale may be directed to Gazes LLC, 32 Avenue of the Americas, 27th Floor, New York, New York 10013, (212) 765-9000 (phone) Attn: Peter Harutunian or the Trustee.

Gazes LLC
Attorneys for Trustee
32 Avenue of the Americas, 27th Floor
New York, New York 10013
(212) 765-9000

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Law firm to Panel Trustee of the United States Bankruptcy Court for the Southern District of New York.