Court OKs Landry's $77M Bid For Claim Jumper Assets

Law360, New York (November 4, 2010, 2:23 PM EDT) -- A bankruptcy court judge has approved the sale of substantially all of Claim Jumper Restaurants LLC's assets to Landry's Restaurants Inc. in a deal valued at about $76.6 million.

Judge Kevin J. Gross of the U.S. Bankruptcy Court for the District of Delaware signed the sale order Thursday. Under the sale agreement, Landry's will pay $48.3 million in cash, assume about $23.3 million in Claim Jumper obligations, and pay up to $5 million in cash collateral assumption obligations.

“The transaction is expected to close on a...
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