Dippin' Dots Proposes $12.7M Asset Sale To Exit Bankruptcy

Law360, New York (April 11, 2012, 7:14 PM EDT) -- Ice cream company Dippin' Dots Inc. sought bankruptcy court approval Wednesday for a $12.7 million sale of virtually all its assets to an affiliate of investment firm Fischer Ventures LLC.

In the cash transaction, the affiliate — Dippin' Dots LLC — would assume ownership of the cash, accounts, inventory, real estate, brand rights, intellectual property and more to bring Dippin' Dots Inc. out of Chapter 11, according to the motion for approval filed in Kentucky bankruptcy court.

Provisions for the proposed Section 363 sale include a...
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