Sugarfina Ch. 11 Plan Confirmed Following Asset Sale
Law360 (May 12, 2020, 7:43 PM EDT) -- Luxury candymaker Sugarfina Inc. received approval for its Chapter 11 reorganization plan Tuesday in Delaware, about six months after completing a $15 million sale of its assets.
During a hearing conducted by phone and video conferencing, U.S. Bankruptcy Judge Mary F. Walrath agreed to confirm the plan after hearing from the debtor that a majority of its voting creditors had cast ballots supporting the plan, which will assign new equity in the debtor to second-lien creditor Goldman Sachs Specialty Lending Holdings Inc.
Unsecured creditors will share in a $100,000 pot of money funded by Goldman Sachs under the terms of the...
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