Fleetwood Housing Assets Sale Set For $29M

Law360, New York (July 16, 2009, 2:14 PM EDT) -- Having already found a buyer for its motor home business, Fleetwood Enterprises Inc. is set to receive at least $29 million for its prefabricated housing division following the bankruptcy court’s approval of the procedures for the asset sale.

On Wednesday, Judge Meredith A. Jury of the U.S. Bankruptcy Court for the Central District of California approved the bidding procedures for Fleetwood’s housing assets, establishing manufactured housing company Cavco Industries Inc. and investor Third Avenue Value Fund as the stalking horse bidder.

Barring a higher bid at...
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