Short-Notice Zohar Real Estate Sale Gets Court OK

Law360 (February 18, 2021, 9:09 PM EST) -- The sale of the assets of The Zohar Funds, a trio of bankrupt distressed-company investment vehicles, continued Thursday as a Delaware bankruptcy judge approved the short-notice $1.1 million sale of an unused Michigan real estate parcel.

Following one day's notice and a brief virtual hearing, U.S. Bankruptcy Judge Karen Owens approved the closure of the sale of a mothballed facility owned by Zohar portfolio company subsidiary Saline Metal Systems, one of a handful of transactions that have come before the court in recent months.

Zohar has been working to sell its interests in dozens of portfolio companies since filing for Chapter 11 protection...

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