Alabama employee retirement funds are buying bankrupt iPic-Gold Entertainment Inc.'s assets for about $51.8 million after the company and the retirement funds settled with the theater’s unsecured creditors over the weekend.
Judge Laurie S. Silverstein of the U.S. Bankruptcy Court for the District of Delaware said Oct. 28 that she will approve the sale of the luxury cinema and dining company with modified terms the parties agreed to before the hearing.
In addition to writing off $51.8 million of its secured debt, the Teachers’ Retirement System of Alabama and the Employees’ Retirement System of Alabama will contribute about $3.25 million ...
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