Judge Approves Sale of Bankrupt American Tire to Lender Group

A judge said Monday that she’d approve the sale of bankrupt tire company American Tire Distributors to a group of term loan lenders.

• The sale considerations include all of the new money DIP claims and $585 million pre-petition term loan claims: filings
  • The buyer would also assume certain liabilities, including the ABL loans
• The group of term loan lenders, also known as the ad-hoc group, consisted Monarch Alternative Capital LP, Silver Point Capital, Guggenheim Partners, Sculptor Capital Management LP and KKR Credit Advisors, according to a court filing dated November
  • The group has agreed to provide ...