US Trustee Challenges $125M Sale Of Fox & Hound, Champps

Law360, New York (February 26, 2014, 4:25 PM EST) -- A U.S. bankruptcy trustee challenged F&H Acquisition Corp.’s proposed plan to skip an auction and sell its three restaurant chains directly to junior lenders led by Cerberus Business Finance LLC for about $125 million, contending Tuesday that the plan should receive "extra scrutiny."

In an objection filed in Delaware court, U.S. Trustee Roberta DeAngelis argues that the proposed plan, which asks the court to approve a private sale to Cerberus, is inappropriate and violates the standard Chapter 11 practices that exist to protect the interests of creditors...
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