Atalaya Capital To Purchase Bennigan's Franchising

Law360, New York (October 22, 2008, 12:00 AM EDT) -- A bankruptcy judge has approved the purchase of Bennigan's Franchising Co. LP for $1 million by investment firm Atalaya Capital Management LP, which had held a number of loans and other interests in the restaurant chain's bankrupt parent company, S&A Restaurant Corp.

Judge Brenda T. Rhodes of the U.S. Bankruptcy Court for the Eastern District of Texas on Wednesday signed off on the Chapter 7 trustee's motion to approve the compromise, resolving Atalaya's earlier motion seeking relief from an automatic stay.

That motion — filed in...
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