Brooklyn Developer Aims For Ch. 11 Transaction In 60 Days

By Vince Sullivan (January 10, 2022, 5:30 PM EST) -- A Brooklyn property development firm told a New York bankruptcy judge Monday that it has interest from six potential bidders for a Chapter 11 transaction that will help the company emerge from bankruptcy, and that it hopes to select a partner within the next 60 days.

During the initial case conference of All Year Holdings Ltd., debtor attorney Gary T. Holtzer of Weil Gotshal & Manges LLP said an ongoing marketing process has resulted in 40 parties agreeing to non-disclosure agreements and six indications of interest of potential bidders for a Chapter 11 transaction.

While the terms and nature of that...

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