Hobbico Approved For Pair Of Ch. 11 Asset Sales At $26M

Law360, Wilmington (April 2, 2018, 9:09 PM EDT) -- Bankrupt model vehicle retailer Hobbico Inc. received court approval Monday in Delaware for a pair of asset sales that will bring in $25.8 million in proceeds to the debtor’s estate, with more sales planned for next week.

During a hearing in Wilmington, Hobbico attorney Nicholas M. Miller of Neal Gerber & Eisenberg LLP told the court Hobbico has made tremendous progress since filing for bankruptcy earlier this year and that it had resolved objections to the sale of two lots of assets after an auction last week.

“I’m happy to announce we have two consensual sale orders to present to the...

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