Movie Gallery's $3M Sale Of Video Games OK'd

Law360, New York (June 25, 2010, 3:54 PM EDT) -- Moving ahead with its Chapter 11 liquidation, Movie Gallery Inc. has gotten the green light to sell $3 million worth of inventory to video game distributor COKeM International Ltd.

Judge Douglas O. Tice Jr. of the U.S. Bankruptcy Court for the Eastern District of Virginia approved the sale Thursday, discounting Gamers Factory Inc.’s attempt to derail the deal with a larger bid.

Shunning the rival $3.075 million bid, Judge Tice gave his blessing to COKeM’s agreement to buy the 600,000 new and used video games for...
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