Renovate America Gets OK For $43M Asset Sale

Law360 (March 9, 2021, 2:01 PM EST) -- A Delaware bankruptcy judge on Tuesday approved home improvement lender Renovate America Inc.'s $43 million Chapter 11 sale to Finance of America Mortgage LLC after hearing the buyer and the company's unsecured creditors had modified a deal they struck last week.

At a virtual hearing, U.S. Bankruptcy Judge Laurie Selber Silverstein approved the sale to Finance of America Mortgage LLC, or FAM, after being told FAM and the unsecured creditors committee had expanded a settlement they had announced last week to increase the purchase price and give key Renovate employees more incentive to stay through the ownership transition.

Renovate hit Chapter 11...

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