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1800mattress.com
Bankruptcy Court Judge Grants All First-Day Motions in 1800mattress.com Chapter 11 Proceeding
April 19th, 2009
The U.S. Bankruptcy Court, Eastern District of New York, granted all six first-day motions proposed by 1800mattress.com, including approval for debtor-in-possession financing provided by Sleepy's, which is seeking to acquire the company through the Chapter 11 process. The voluntary Chapter 11 filing was made earlier this week by Dial-A-Mattress Operating Corp., the company's legal entity. The key motions granted include one for approval of procedures, dates and deadlines for sale of the company's assets, as well as issues surrounding assumption and assignment of contracts and leases. The other key motion granted by the court involved authorization to obtain...
Source: Pharma Investments, Ventures & Law Weekly (2009-04-19)
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