Levine quoted on DirectBuy Holdings’ bankruptcy plan
Sharon Levine, a partner in Saul Ewing’s Bankruptcy and Restructuring Practice, weighs in on complications in DirectBuy Holding Inc.’s plan for bankruptcy auction. Difficulties with an unpaid insurance premium financing plan caused the company to make several last minute changes to its plan which have impacted termination fees.
Sharon, who represents the official unsecured creditors committee, said in the article “that last-minute increases in rejected contracts could drive up the amount the company will have to pay to compensate, or cure, claims from those rejected, reducing the amount available to the estate. Without that limitation, judgment of competing bids will be more difficult.”
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