Value City Gets Green Light For Closeout Sales

Law360, New York (November 21, 2008, 12:00 AM EST) -- A judge has given the go-ahead for bankrupt Value City Holdings Inc. to conduct going-out-of-business sales to be managed by liquidator and financial consultant Tiger Capital Group LLC.

The order, issued Thursday in the U.S. Bankruptcy Court for the Southern District of New York, authorized the closeout sales to be conducted free and clear of all liens, claims and encumbrances.

Prior to the commencement of Chapter 11 proceedings, the debtors retained Tiger Capital to perform the sales, according to Value City's motion.

Attorney John Longmire of...
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