Questex Nears End Of Ch. 11 With Asset Sale

Law360, New York (November 25, 2009, 1:01 PM EST) -- A bankruptcy judge has approved the $120 million sale of substantially all of Questex Media Group Holdings Inc.'s assets to a group of its senior lenders, paving the way for the bankrupt trade magazine publisher to emerge from Chapter 11, the company said Wednesday.

Judge Mary Walrath of the U.S. Bankruptcy Court for the District of Delaware approved an asset purchase agreement between Questex and its prepetition first-lien lenders, known as QMG Acquisition LLC, in an order Tuesday.

The company and senior lenders expect to close...
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