Legal Opinion
Polk Lending 33, LLC v. THL Corporate Fin., Inc. (In re Aerogroup Int'l, Inc.)
United States Bankruptcy Court, D. Delaware
Decided March 26, 2019No. Case No. 17-11962 (KJC) (Jointly Administered); Adv. Proc. No. 18-50383 (KJC)PublishedCited by 5 opinions
1Opinion of the Court
BY: KEVIN J. CAREY, UNITED STATES BANKRUPTCY JUDGE
On September 15, 2017, Aerogroup International, Inc. and certain related entities (the "Debtors") filed chapter 11 bankruptcy petitions in this Court. On March 6, 2018, the Debtors sold their assets at an auction, receiving net sale proceeds of $ 25,450,000.3 The assets sold were encumbered by the liens of THL Corporate Finance, Inc. ("THL")4 and Polk 33 Lending, *575LLC ("Polk" or the "DIP Lender"). Pursuant to the Final DIP Order and the Order authorizing the sale,5 the Sale Proceeds have been placed in a sale escrow account pending distribution…
2Cases cited7 opinions
- Associates Commercial Corp. v. RashSupreme Court of the United States · 1997
- Trademark Research Corporation, Plaintiff-Appellee-Cross-Appellant v. Maxwell Online, Inc., Defendant-Appellant-Cross-AppelleeCourt of Appeals for the Second Circuit · 1993
- Marfia v. T.C. Ziraat BankasiCourt of Appeals for the Second Circuit · 1998
- Wechsler v. Hunt Health Systems, Ltd.District Court, S.D. New York · 2004
- Motors Liquidation Co. Avoidance Action Trust ex rel. Wilmington Trust Co. v. JPMorgan Chase Bank, N.A. (In re Motors Liquidation Co.)United States Bankruptcy Court, S.D. New York · 2017
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3Cited by5 opinions
- In Re Sears Holdings Corp.Court of Appeals for the Second Circuit · 2022
- In Re: Sears Holdings CorporationDistrict Court, S.D. New York · 2020
- In re: Aerogroup International, Inc.District Court, D. Delaware · 2020
- In re: Aerogroup International, Inc.District Court, D. Delaware · 2020
- Polk 33 Lending, LLC. v. SchwartzDistrict Court, D. Delaware · 2021