Real Mex Gets Green Light To Auction Assets

Law360, Wilmington (November 4, 2011, 6:39 PM EDT) -- Bankrupt Real Mex Restaurants Inc. won tentative court approval Friday to auction off its assets, despite bitter opposition from unsecured creditors that claim the fast-track sale plan was dictated by noteholders hoping to snap up the company.

U.S. Bankruptcy Judge Brendan L. Shannon indicated that he would sign off on the sale procedures once the restaurant chain owner modifies the order to include his guidance on the committee’s objections, setting a hearing to approve the sale for Jan. 30.

The official committee of unsecured creditors argued...
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