Bankruptcy Judge OKs $80M Fortunoff Sale

Law360, New York (March 6, 2008, 12:00 AM EST) -- A judge has signed off on an $80 million sale of the bulk of assets of bankrupt Fortunoff Fine Jewelry and Silverware LLC to an affiliate of NRDC Equity Partners LLC in an agreement begrudgingly accepted by creditors.

Approving the acquisition Thursday, U.S. Bankruptcy Judge James M. Peck, of the Southern District of New York, said the deal was in the best interests of the debtors and ruled his order to be enforceable immediately, notwithstanding the 10-day stay provision under the Bankruptcy Code.

“Time is of...
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