Champion Reaches $130M Asset Sale Deal

Law360, New York (January 20, 2010, 12:36 PM EST) -- Humbled homebuilder Champion Enterprises Inc. has agreed to sell all its assets to Credit Suisse AG and its other debtor-in-possession financiers, which are making an $80 million credit bid, and to an investor group that has promised to funnel $50 million into the company.

Champion and the investor group — which includes Centerbridge Partners LP, MAK Capital Fund LP and Sankaty Advisors LLC — filed a motion to approve the sale Friday in the U.S. Bankruptcy Court for the District of Delaware. The three private equity...
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