SFX Entertainment filed with the U.S. Bankruptcy Court a notice of (i) successful bidder for its Flavorus Assets and (ii) potential assumption and/or assignment or rejection of additional executory contracts and unexpired leases, cure amount, and deadline to object thereto for such additional executory contracts and/or unexpired leases.
The notice states, “At the Auction, the Debtors, in consultation with the DIP Lenders, Consenting Noteholders and Committee, determined that the Successful Bidder was Vivendi Ticketing U.S. The Successful Bid included a Cash Purchase Price of an amount equal to four million dollars (US $4,000,000) minus the Estimated Closing Aggregate Cure Amount plus Assumed Liabilities… At the Sale Hearing, to be held on June 8, 2016 in the Bankruptcy Court, the Debtors will seek entry of an order (the ‘Sale Order’) authorizing and approving the transactions contemplated by the Successful Bid.”
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