The Delaware Bankruptcy Court has approved procedures for a sale of AFA Investment, Inc. and its affiliates’ assets. As approved, the procedures are largely as reported here on April 20, 2012, with some changes:

·         AFA has until June 11, 2012 to identify a stalking horse bidder. If one isn’t identified, AFA must file its own proposed form of asset purchase agreement on that date.

·         Qualifying bids are due by June 19, 2012 at 4:00 p.m.

·         If an auction is held, it will be on June 21, 2012 at 10:00 a.m.

 

If you are interested in participating in the sale process or would like a full copy of the bidding procedures, please contact Brandy Sargent at (503) 294-9888 or David Levant at (206) 386-7601.