Family Christian LLC, a retailer of religious merchandise, got a bankruptcy judge in Grand Rapids, Michigan, to approve both its Chapter 11 plan and the sale of its business on Aug. 11 (In re Family Christian LLC, Bankr. W.D. Mich., 15-00643, plan confirmed 8/11/15).
The retailer came back with the plan after the judge declined to approve an outright sale to FCS Acquisition LLC, which made the best bid at auction18 MALR 990, 6/29/15, 27 BBLR 902, 6/25/15.
At the outset of bankruptcy, Family Christian owed about $23.1 million on a revolving credit with FC Special Funding and $34.2 ...
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