Judge David Jones of the U.S. Bankruptcy Court for the Southern District of Texas has approved several sales of Bouchard Transportation debtors’ assets, including the sale of vessels encumbered by the Debtor in Possession (DIP) loan to DIP lender JMB Capital Lending Partners LLC, a Lowenstein client, for a purchase price of $115.3 million, consisting of a credit bid of a DIP claim of $94.5 million and the remainder in cash of $20.8 million.
According to Reuters, Judge Jones said he “could not be more happy” with the sale process.
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