American Laser Skincare Reaches Ch. 7 Financing Deal
Law360, New York (January 14, 2015, 5:58 PM EST) -- Private equity-owned medi-spa operator American Laser Skincare LLC has reached a deal with creditors owed more than $125 million in Delaware bankruptcy court on Tuesday that calls for the lenders to fund the Chapter 7 liquidation process.
In Tuesday’s stipulation, the lenders agreed to put forth a total of $250,000 in two payments to fund the administrative costs of the bankruptcy, while the debtor’s trustee acknowledged that the company owes those lenders $124.1 million without defense, deduction or offset.
“Desirous of maximizing value for both the lender parties and the trustee’s constituency, the debtors’ unsecured creditors (including the lender parties), the...
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!
Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.