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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.