By Rick Archer (October 1, 2021, 10:49 p.m. EDT) – A Delaware bankruptcy judge on Friday approved a nearly $ 140 million stalking horse offer by a subsidiary of Cerberus Capital Management for the Colombian loan portfolio of the Latin American payday lender Alpha Latam Management.
US bankruptcy judge J. Kate Stickles has approved the deal fixing the bid that other contenders for Alpha‘s Oct. 28 asset auction will have to beat. The green light came after parties to the remote hearing spent more than an hour negotiating revisions to the contract in response to the judge’s objections to arrangements that will compensate Cerberus if Alpha breaks the deal or fails to close the deal. sale…
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