Bankrupt Furniture Brands Gets Nod For Ch. 11 Plan

Law360, Wilmington (July 14, 2014, 8:17 PM EDT) -- A Delaware bankruptcy judge on Monday blessed the Furniture Brands International Inc.’s Chapter 11 liquidating plan, allowing the estate to dole out the proceeds of the company’s $280 million asset sale.

U.S. Bankruptcy Judge Christopher S. Sontchi signed off on the Chapter 11 plan at a hearing in Wilmington, finding that it “clearly satisfies” confirmation requirements. Furniture Brands entered court protection in September after lining up a $166 million stalking horse bidder and eventually sold the bulk of its assets to private equity firm KPS Capital Partners LP for $280 million, a result Judge Sontchi described Monday as “spectacular.”

The Chapter...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS