Rule 6004-3 Public Sale Bidding Procedures in a Chapter 11 Case.
In the case of a public sale conducted in chapter 11 case by other than a professional auctioneer, the seller must file a sale procedure motion which will detail the bidding procedures, including the following:
(1) any minimum bid requirements;
(2) any minimum bid increment requirements;
(3) whether any bidder who has a contractual right to a topping or breakup fee will receive a credit equal to the breakup or topping fee when bidding on the property; and
(4) a provision that all bidding must take place outside the presence of the court.