Prepared-Foods Co. Cleared To Unload Assets For $70M

Law360, Wilmington (November 15, 2011, 8:25 PM EST) -- A Delaware bankruptcy judge on Tuesday gave Chef Solutions Holdings LLC the go-ahead to sell its assets for nearly $70 million to a joint venture between private equity firm Mistral Capital Management LLC and rival Reser’s Fine Foods Inc.

U.S. Bankruptcy Judge Kevin Gross signed off on the sale at a court hearing after no other bids emerged for the prepared foods company and an auction was canceled.

Judge Gross said that while the bankruptcy sale was “not necessarily what I would call a happy ending...
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