Partners Victor Sahn and Mark Horoupian are representing one of the largest unsecured creditors, a Sri Lankan-based supplier, in a Chapter 11 bankruptcy case for a fashion retail chain. Under the court-approved DIP financing terms, the company will sell its business to either a bidder-to-eat stalking horse sale, or through an intellectual property sale and liquidation. Currently, there’s a $192 million bid from a stalking horse venture led by an apparel company.
The initial hearing was held on July 6, 2020 in the U.S. Bankruptcy Court for the District of Delaware by Judge Christopher S. Sontchi.
