Advance Watch Company Ltd. (a/k/a Geneva Watch Group) Bankruptcy New Filing Alert: Objection To The Motion For Authority To Sell Assets Of The Estates Pursuant To Section 363 Of The Bankruptcy Code

On October 15, 2015, an objection to 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 Advance Watch Company Ltd. (a/k/a Geneva Watch Group) and its affiliates.

The filing was assigned docket number 63 and is described on the court’s official docket as follows:

Objection to Motion ZY Holding LLC’s Preliminary Objection and Reservation of Rights with Respect to Debtors’ Motion for Entry of Orders (I) Approving Sale Procedures for the Sale of Certain of the Debtors’ Assets Free and Clear of All Liens, Claims and Encumbrances Pursuant to Section 363 of the Bankruptcy Code, (II) Approving Certain Bid Protections, (III) Approving the Form and Manner of Notice of the Sale and Assumption and Assignment of Executory Contracts and Unexpired Leases, (IV) Scheduling an Auction and Sale Hearing, and (V) Approving Such Sale (related document(s)[17]) filed by Stanley B. Tarr on behalf of ZY Holdings LLC. (Attachments: # (1) Exhibit A (Termination Letter)) (Tarr, Stanley)

Advance Watch Company Ltd. (a/k/a Geneva Watch Group) filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on September 30, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the Southern District of New York . The case number for the lead bankruptcy case is 15-12690. The bankruptcy case is currently assigned to United States Bankruptcy Judge Martin Glenn. The law firm of Venable LLP is acting as lead bankruptcy counsel to Advance Watch Company Ltd. (a/k/a Geneva Watch Group) in the bankruptcy case.


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