FAT Brands Nets Court Approval of Bankruptcy Deal, Asset Sales

Restaurant chain owner FAT Brands Inc. received court approval for a wide-ranging deal with lenders and unsecured creditors, advancing toward confirmation of its bankruptcy plan.

Judge Alfredo R. Pérez of the US Bankruptcy Court for the Southern District of Texas approved the settlement, which resolved a slew of creditor objections, along with asset sale motions and a bankruptcy funding request during a Tuesday hearing.

“I really want to commend the parties for being able to reach a consensual resolution of this,” Pérez said. “I would not have thought that would’ve been the case at the beginning of the case.”

FAT ...