On January 22, 2015, a response to the motion for authority to enter into a transaction which is outside the ordinary course of business was filed in the bankruptcy case of Variant Holding Company, LLC and its affiliates.
The filing was assigned docket number 223 and is described on the court’s official docket as follows:
Reservation of Rights Regarding Debtor’s Motion for Order: (I) Authorizing Debtor to Cause Its Non-Debtor Subsidiary, Royal Numeric FX Investments LLC, and Its Subsidiaries to Execute Release with Wells Fargo Bank, N.A., as Trustee, in Favor of IMH Financial Corporation and Its Affiliates, (II) Determining that, Upon Execution of Such Release, IMH Financial Corporation and Its Affiliates No Longer Have Any Right, Title or Interest in Royal Numeric FX Investments, LLC, and (III) Authorizing the Debtor to Take All Necessary and Appropriate Actions in Connection with the Foregoing (related document(s)) Filed by Snowdon Partners Properties 15, LLC and Snowdon FX3 Huddie, LLC. (Brown, Stuart)
Variant Holding Company, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on August 28, 2014. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 14-12021. The bankruptcy case is currently assigned to United States Bankruptcy Judge Brendan Linehan Shannon. The law firm of Pachulski Stang Ziehl & Jones LLP is acting as lead bankruptcy counsel to Variant Holding Company, LLC in the bankruptcy case.