Legal Opinion
Winstar Holdings, LLC v. Blackstone Group, LP (In Re Winstar Communications, Inc.)
United States Bankruptcy Court, D. Delaware
Decided August 11, 2010No. 19-10537PublishedCited by 6 opinions
1Opinion of the Court
MEMORANDUM 1
KEVIN J. CAREY, Bankruptcy Judge.
Background
This adversary proceeding arises out of a sale of assets pursuant to Bankruptcy Code section 363 by the debtor, Winstar Communications, Inc., and its related entities (the “Debtors” or “Old Winstar”) to Winstar Holdings, LLC (“New Winstar”) and IDT Corporation (“IDT”) (jointly, the “Plaintiffs”). At an auction held on December 5, 2005, the Plaintiffs’ bid was identified as the highest and best offer for the assets. The Debtors and the Plaintiffs entered into an Asset Purchase Agreement dated as of December 18, 2001 (the “APA”), which was…
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