Court approves DIP lenders’ credit-bid sale of substantially all assets
The court approved House Spirits’ sale of substantially all assets to the DIP lenders and their permitted designees, ending the auction process with the lenders’ credit bid as the only qualified bid. The sale approval order authorizes the asset purchase agreement, approves assumption and assignment of selected contracts and leases, and transfers the acquired assets free and clear of liens, claims, encumbrances, and other interests, subject to permitted liens and assumed liabilities.
The consideration is a credit bid of 100% of DIP obligations outstanding at closing, so the sale shifts the case from value-maximizing process to post-closing administration and recovery allocation. The related APA filing identifies the successful bidder group as Themiscyra S.A., Endurance Invest Corp., Maria Isabel Leal, and Trillo San Carlos S.A., while the agreement names the DIP lenders, with designees and assigns, as purchaser. With no competing qualified bid, professionals should now track closing, contract-assumption disputes or cure costs, and how any residual estate value flows after the secured credit bid.