Creditors Say Lucky's Market Sale Process Is Unfair
Law360 (February 12, 2020, 10:30 PM EST) -- Unsecured creditors told the Delaware bankruptcy court Wednesday that proposed sale procedures in the Chapter 11 of organic food store chain Lucky's Market include unfair provisions that will discourage competitive bidding and create an uneven playing field in favor of stalking horse bidders.
In an objection filed with U.S. Bankruptcy Judge John T. Dorsey, the official committee of unsecured creditors said tweaks need to be made to bidding procedure motions before the judge signs off on them.
"The committee supports the sale of the debtors' assets through a fair and reasonable competitive process that maximizes value for the debtors' states and...
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