Garden Fresh Sale To Creditor Gets Court Approval In Del.

Law360, Wilmington (January 9, 2017, 6:07 PM EST) -- Bankrupt restaurant chain Garden Fresh Restaurant Intermediate Holding LLC received court approval Monday in Delaware for a sale of its assets to a prepetition secured lender that was the only bidder for the company.

During a hearing in Wilmington, Garden Fresh attorney Neil E. Herman of Morgan Lewis & Bockius LLP told the court that stalking horse bidder GFRC Holdings had submitted the only qualified bid for the company's assets ahead of an auction scheduled for last week and was designated the winning bidder. The buyer...
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