The Wet Seal, Inc. Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Sell Assets Of The Estates Pursuant To Section 363 Of The Bankruptcy Code

On February 18, 2015, an order regarding the motion for authority to sell assets of the estates pursuant to section 363 of the Bankruptcy Code was filed in the bankruptcy case of The Wet Seal, Inc. and its affiliates.

The filing was assigned docket number 329 and is described on the court’s official docket as follows:

Order Approving Certain Bid Procedures Governing the Submission of Competing Proposals to (I)(A) Sponsor of a Plan of Reorganization for the Debtors or (B) Acquire All or Substantially All of the Debtors Assets Pursuant to Section 363 of the Bankruptcy Code and (II) Provide Debtor-in-Possession Financing. (Related Doc # [259]) Order Signed on 2/18/2015. (Attachments: # (1) Exhibit 1) (DMC)

The Wet Seal, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on January 15, 2015. 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 15-10081. The bankruptcy case is currently assigned to United States Bankruptcy Judge Christopher Sontchi. The law firm of Klee, Tuchin, Bogdanoff & Stern LLP is acting as lead bankruptcy counsel to The Wet Seal, Inc. in the bankruptcy case.


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