Court approves $3.3 million sale to Dana Heritage Finanz
The court approved IMG Holdings’ sale of substantially all assets to Dana Heritage Finanz St. Honore Beauty LLC, authorizing the debtors to consummate the APA immediately and transfer the assets free and clear of liens, claims, encumbrances and other interests, subject to permitted liens and assumed liabilities. The sale order follows an auction process and a sale hearing held on October 24, and the court found the APA was the highest or best offer and provided reasonably equivalent value.
The APA sets a $3.3 million purchase price: $472,536 is payable to Disney and $2,827,464 to the sellers at closing, with any accepted additional inventory paid separately within five business days and capped at seller cost for non-defective, sellable product. This moves the case from marketing and auction execution into monetization and closing risk; professionals should now track closing, treatment of assumed contracts and liabilities, and how sale proceeds flow into any dismissal, wind-down, or distribution path.