We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Judge OKs $31M Sale Of Hines Nurseries To Lender

Law360 (February 28, 2011, 5:23 PM EST) -- Hines Nurseries LLC won bankruptcy court approval Monday to sell its assets to lender Black Diamond Capital Management LLC for as much as $31 million, allowing the debtor to continue operations but promising little in terms of recovery for creditors.

After an auction failed to produce any other qualified bids, Black Diamond credit bid the outstanding amount on Hines’ debtor-in-possession financing, $21.5 million, and agreed to include whatever additional DIP funding is necessary to get the debtors to the sale closing, up to a total of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.