Loot Crate's Ch. 11 Asset Sale Approved In Del. Court

By Vince Sullivan (September 26, 2019, 6:58 PM EDT) -- Culture goods delivery service Loot Crate Inc. received court approval Thursday for a $30 million sale of its assets to a secured lender serving as a stalking horse bidder.

During a hearing in Wilmington, debtor attorney Mark I. Duedall of Bryan Cave Leighton Paisner LLP said the offer from prepetition lender Money Chest LLC, which also provided $10 million in bankruptcy loans in the case, represented the best offer available to the debtors after a six-week post-petition marketing process.

"We believe that we've established that the sale is appropriate, that there is a need for this sale and that there is...

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