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IN RE KATY INDUSTRIES, INC.

Case No. 17-11101 (KJC) (Jointly Administered), Adv. No. 17-50937 (KJC).

590 B.R. 628 (2018)

IN RE: KATY INDUSTRIES, INC., et al., Debtors. The Official Committee of Unsecured Creditors of Katy Industries, Inc., et al., Plaintiff, v. Victory Park Capital Advisors, LLC; Victory Park Management, LLC; VPC SBIC I, L.P.; Jansan Acquisition, LLC; and Charles Asfour, Defendants.

United States Bankruptcy Court, D. Delaware.

Signed July 6, 2018.

Editors Note
Nature of Suit: 21 — Validity, priority or extent of lien or other interest in property, 02 — Other (e.g. other actions that would have been brought in state court if unrelated to bankruptcy), 14 — Recovery of money / property - other, 81 — Subordination of claim or interest.
Source: PACER

Attorney(s) appearing for the Case

Robert K. Malone , Drinker Biddle & Reath LLP, Florham Park, NJ, Steven K. Kortanek , Joseph N. Argentina, Jr. , Andrew J. Flame , Patrick A. Jackson , Drinker Biddle & Reath LLP, Wilmington, DE, for Plaintiff.

David Ryan Slaugh , Potter Anderson & Corron LLP, Robert Alan Weber , Skadden Arps Slate Meagher & Flom LLP, Wilmington, DE, for Defendants.

Charles Asfour, pro se.

OPINION2

If a portion of a credit bid ($7.5 million) is subtracted from a buyer's $45.7 million successful bid for the Debtors' assets when there are no other bidders, does it make a difference? The answer lies in an analysis...

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