Chef Solutions Cleared To Sell Assets At Auction

Law360, Wilmington (October 19, 2011, 8:03 PM EDT) -- Chef Solutions Holdings LLC won a Delaware bankruptcy court’s blessing Wednesday to sell its assets at auction, where a joint venture between a private equity firm and rival Reser’s Fine Foods Inc. will kick-start the bidding with an initial $62 million offer.

U.S. Bankruptcy Judge Kevin Gross signed off on auction procedures and the stalking horse bid from Reser’s and Mistral Capital Management LLC after a short hearing, setting an auction for Nov. 9.

“The procedures are fair and reasonable and certainly designed to receive the...
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