Large Case Asset Sales: October 25 to 31, 2026

Large Case Asset Sales, October 25 to 31, 2026 | Stretto Intelligence
Research Suite by Stretto
Special Report

Large Case Asset Sales: October 25 to 31, 2026

Oaktree put a $92.5 million floor under RiverStreet's rural fiber network, DISH Wireless reopened its sale process without a stalking horse after EchoStar's bid was terminated, and a growing share of the week's docket activity concerned enforcing sales that courts had already approved.

Prepared by Research Suite by Stretto November 2026 65 sale docket entries across 24 chapter 11 cases with $100M+ in assets
Section I

The week in numbers

Between Sunday, October 25 and Saturday, October 31, 2026, Research Suite recorded 65 docket entries classified as asset sale activity in 24 chapter 11 cases that reported $100 million or more in assets at filing. The cases sit in nine courts, eight of the 24 cases in the Southern District of Texas alone, and range from DISH DBS Corporation ($8.4 billion in assets at filing) to a 192-acre agricultural parcel sold out of the Santa Paula Hay & Grain case in the Central District of California.

Two new processes for substantially all of a debtor's assets entered the market. One more was rebuilt from the ground up.

Large cases with sale activity
24
$100M+ in assets at filing
Sale docket entries
65
Oct. 25 to Oct. 31, 2026
Largest new stalking horse
$92.5M
Oaktree for RiverStreet (cash)
Sale enforcement fights
6
Cases litigating an existing sale or sale order

The distribution of activity was uneven. Salad and Go alone produced 12 of the 65 entries, most of them tied to a single emergency motion against a buyer that stopped performing. Remove that case and the median case generated two sale entries for the week.

Sale docket entries by case, Oct. 25 to Oct. 31, 2026 (cases with 3 or more)
Salad and Go
12
DAMIS Holdings
5
SIMAD Holdings
4
Steward Health Care
4
Supor Properties
4
Omnicare
3
MH Wind Down (Mondee)
3
FAT Brands
3
F-Star Socorro
3
BFG Supply
3

Source: Research Suite by Stretto docket classification (topic "Non-Ordinary Course Transactions: Asset Sale"), cases with $100M+ assets at filing, filing dates Oct. 25 to Oct. 31, 2026.

Section II

RiverStreet Communications: Oaktree sets the floor at $92.5 million

Six days after filing in the Eastern District of Virginia, RiverStreet Communications of Virginia and its affiliates moved on October 27 for bid procedures and approval of a sale of substantially all of their assets (Dkt. 85). The stalking horse is OCM RiverStreet Holdings, LLC, an entity formed by Oaktree Capital Management, under an asset purchase agreement dated October 20, 2026. The business is a rural fiber broadband and voice network serving roughly 31,600 subscribers, predominantly in Virginia and North Carolina, and the debtors reported $170 million in assets at filing.

The marketing record behind the bid is detailed. Guggenheim Securities began a dual-track process in May 2026, soliciting both sale bids and bids for an exit term loan that would finance a standalone reorganization. It contacted 128 parties; 66 signed NDAs; seven submitted indications of interest, split between two financing term sheets and five sale proposals. The motion states that a sale bid would become the stalking horse only if it beat the best exit financing alternative, and that the debtors negotiated a materially higher price than Oaktree first offered.

$92.5M
Oaktree stalking horse bid
Purchase price
$92,500,000 cash plus assumed liabilities
Deposit
$9,250,000
Break-up fee
$2,775,000 (3.0%)
Expense reimbursement cap
$1,500,000
$97.3M
Implied minimum competing bid
Minimum overbid formula
Price + break-up fee + max. reimbursement + $500,000
Good faith deposit
10% of cash price
Bid protections status
Superpriority administrative claims
Regulatory gating
FCC section 214 and state PUC approvals

Source: RiverStreet Communications of Virginia, Inc., No. 26-72823 (Bankr. E.D. Va.), Dkt. 85 at 2, 5, 11, 12, 15. The $97.3 million figure is computed from the motion's minimum overbid formula using the capped reimbursement.

The bid protections sit at the market's upper end in one respect. The 3% break-up fee and the $1.5 million reimbursement cap are paid ahead of DIP obligations and prepetition facility obligations from the proceeds of any alternative transaction, subject only to the carve-out. No fee is payable if Oaktree terminates while regulatory approvals remain outstanding.

The schedule is driven by DIP milestones requiring a bid procedures order within 30 days of the petition date and a sale hearing within 60 days.

November 16, 2026
Objection deadline for the bid procedures motion
On or before November 18, 2026
Bid procedures hearing
December 10, 2026
Qualified bid deadline (4:00 p.m. ET)
December 15, 2026
Auction, if necessary
December 18, 2026
Sale objection and adequate assurance deadline
No later than December 21, 2026
Sale hearing

Source: Dkt. 85 at 7 (proposed dates; the debtors may extend after consultation).

Section III

DISH Wireless: the stalking horse comes off the table

The largest case on this week's list produced a single sale entry, and it changed the shape of the process. On October 29, the special committee of independent managers of DISH Wireless L.L.C. filed a revised proposed bidding procedures order in the DISH DBS Corporation cases pending before the Southern District of Texas (Dkt. 1848). The original motion (Dkt. 15) had asked for authority to enter into a stalking horse agreement with EchoStar Corporation, the DISH Wireless debtors' corporate parent. The revised order recites that the DISH Wireless debtors terminated the EchoStar stalking horse agreement and withdrew their request to approve it, and that with that withdrawal all formal and informal objections to the motion were withdrawn, resolved or overruled.

The notice describes the revised order as consensual between the special committee and the official committee of unsecured creditors. A related-party stalking horse in a case of this size was always going to draw scrutiny, and the creditors' committee's sign-off on a process without one is the clearest signal in the filing about where the objections had been coming from.

The revised procedures run two parallel tracks with staggered deadlines, one for network assets and one for intellectual property assets, and leave room for a stalking horse to be designated later in each.

Milestone Network assets IP assets
Non-binding indications of interest Nov. 12, 2026 Nov. 19, 2026
Stalking horse appointment deadline Nov. 25, 2026 Dec. 2, 2026
Binding bid deadline Dec. 1, 2026 Dec. 7, 2026
Qualified bid designation Dec. 3, 2026 Dec. 9, 2026
Auction, if any Dec. 7, 2026 Dec. 11, 2026
Notice of successful bidder Dec. 8, 2026 Dec. 12, 2026
Sale objection deadline Dec. 14, 2026 Dec. 14, 2026
Sale hearing Dec. 15, 2026, subject to the court's availability

Source: DISH DBS Corporation, No. 26-90627 (Bankr. S.D. Tex.), Dkt. 1848, Ex. A at 4. Proposed order; not entered as of October 31, 2026.

What changed

A process that began with a parent-company bid now begins with no price floor at all, and the stalking horse decision moves from the petition-date motion to late November. Bidders for the network assets have about two weeks from indications of interest to the stalking horse deadline. Whether a third party fills that slot will say a good deal about the market's view of the spectrum-adjacent network assets.

Section IV

Trajector: bidding procedures without a bidder

On October 27, the Middle District of Florida granted Trajector Holdings' expedited motion for bidding procedures covering substantially all of its assets, with terms and conditions stated on the record (Dkt. 354, hearing memo; motion at Dkt. 340). Trajector, a disability benefits and medical evidence services company, reported $405 million in assets at filing in July 2026. The appearance list at the hearing included Deutsche Bank AG New York Branch, the U.S. Trustee, the creditors' committee, the National Association of Attorneys General and the Minnesota Attorney General, a roster that reflects the consumer-facing character of the assets.

The motion discloses that no purchaser had been identified and no stalking horse agreement signed. It reserves the right to designate one with a break-up fee of up to 2% of the cash bid and expense reimbursement capped at $250,000, and bars insiders and credit-bidding secured creditors from receiving those protections. The 2% ceiling is a full percentage point below the fee Oaktree negotiated at RiverStreet the same week.

Term Trajector (proposed)
Stalking horse None at filing; may be designated before or at auction
Break-up fee ceiling Up to 2% of total cash value
Expense reimbursement cap $250,000
Minimum bid increment $250,000
Sale and contract objection deadline December 11, 2026
Bid deadline December 30, 2026
Auction January 7, 2027
Sale hearing January 14, 2027

Source: Trajector Holdings, LLC, No. 26-03286 (Bankr. M.D. Fla.), Dkt. 340 at 3 to 4. Dates are as proposed in the motion; the court approved the procedures with terms stated on the record.

Section V

Sales approved and signed

Five large cases obtained court authority for a sale or a sale amendment during the week. In the SIMAD and DAMIS cases, the parties executed the definitive agreement four days after the court approved the sale from the bench.

Case Court Event Date
Omnicare, LLC
$200M assets
N.D. Tex. Order authorizing an amended APA, an amended transition services agreement and a second APA amendment (Dkt. 1382) Signed Oct. 27; entered Oct. 28
RunItOneTime (f/k/a Maverick Gaming)
$300M assets
S.D. Tex. Private sale of personal property and operations at two Tukwila, Washington cardrooms, with rejection of the master lease as to each (Dkt. 1865) Oct. 26
SIMAD / DAMIS Holdings
$300M assets each
D.N.J. Sale of Kiwi Operatingco, Kiwi Landco and DASMAS Landco assets to LKQE Associates, LLC approved at Oct. 26 hearing; APA executed Oct. 30 (SIMAD Dkt. 1410) Oct. 26 / Oct. 30
And Go Concepts (Salad and Go)
$600M assets
S.D. Tex. Second order approving non-bulk sale of additional leases to successful bidders (Dkt. 648) Oct. 27
El Dorado Gas & Oil
$600M assets
S.D. Miss. Order granting the trustee's motion to sell properties free and clear (Dkt. 2019) Oct. 26

Source: Research Suite by Stretto, docket entries as linked. Assets are as reported at filing.

Omnicare's amendments repay a close reading. The October 23 supplement (Dkt. 1374) describes three changes negotiated with the buyer. The buyer will distribute approximately $1.4 million in accrued long-term incentive plan compensation to eligible employees at closing, in exchange for a matching credit against the purchase price; the LTI awards would otherwise have vested on March 31, 2027, after the expected closing. The buyer will increase the price by the cost of extra drug inventory the debtors buy ahead of closing to keep patient service uninterrupted. And the outside closing date moves from November 23 to November 30, 2026, which the supplement attributes to the operational difficulty of closing in a holiday week. The same October 27 emergency hearing took up a third amendment to the DIP credit agreement.

Section VI

Closings and wind-down transfers

Several cases reported transactions crossing the finish line. GoldenPeaks Poland Holding Limited (Southern District of Texas, $2.0 billion in assets at filing) filed notice on October 27 of a partial closing and the resulting dismissal of the chapter 11 cases of certain initial acquired companies, under its confirmed plan (Dkt. 891). BFG Supply Co. (District of Delaware) filed a notice of closing of sales tied to eight prior sale orders on October 26, after withdrawing and refiling an earlier version the same day (Dkt. 401). Salad and Go noticed the closing of its bulk sale and a supplemental cure claims bar date on October 29 (Dkt. 654).

Post-confirmation and post-effective date sales also continued. The plan administrator in Del Monte Foods (District of New Jersey) filed a certification of no objection and an amended proposed order on a free-and-clear sale motion on October 27. US Magnesium (District of Delaware) filed a revised proposed order on October 30 approving the sale of the post-effective date debtor's assets, following a stalking horse APA revision and an October 26 hearing at which the USM Liquidating Trust had pressed a limited objection (Dkt. 1236). In First Brands Group, the wind-down administrator noticed a proposed order for the sale of certain Eagle Machining, LLC assets to Ventures in Space Fayette, Ltd. (Dkt. 4015). Santa Paula Hay & Grain filed a Rule 6004(f)(1) report of sale for 192 acres of agricultural land in Delano, California (Dkt. 804).

Section VII

When the buyer stops performing: Salad and Go and Swig

On October 16, the Southern District of Texas approved the sale of two Arizona locations to Swig Stores, LLC: Store No. 1124 at 777 W. Indian School Road in Phoenix for $700,000 and Store No. 1127 at 3229 S. 48th Street in Tempe for $780,000. The order found Swig's offer highest or otherwise best and directed both sides to use reasonable best efforts to close. On October 27, the debtors filed an emergency motion to enforce the order and compel Swig to close (Dkt. 647).

According to the motion, no closing condition has failed, no landlord objection is pending and the debtors are not in default. Swig relies on section 1.6(a) of its APA, which lets the buyer drop a previously designated contract from the assumed contract schedule up to three days before closing. The debtors characterize that provision as a contract-schedule and cure-cost mechanism that says nothing about sites, purchased assets or price. Swig objected on October 29 (Dkt. 657); the debtors' witness list attached a Dutch Bros Coffee APA, Swig's letter of intent and the stalking horse selection notice. At a ten-minute hearing on October 30, the court continued the motion to November 6, 2026 (Dkt. 663).

Store No. 1124 (Phoenix)
$700,000
Store No. 1127 (Tempe)
$780,000
Combined at stake
$1.48M
Hearing continued to Nov. 6, 2026

Source: And Go Concepts, LLC, No. 26-90753 (Bankr. S.D. Tex.), Dkt. 647 at 2; Dkt. 663.

The dispute turns on a drafting question every lease-by-lease restaurant sale faces. When a buyer's contract designation rights are broad and the purchased assets are, in practice, the leases themselves, the right to remove a lease from the schedule can operate as a right to walk away from a store.

Section VIII

Enforcing sale orders after the fact

Salad and Go was one of six large cases where the week's sale activity involved litigating a transaction that had already been approved or closed. The mix of movants is telling: buyers seeking protection under their sale orders, a debtor seeking performance from a buyer, an escrow administrator, and franchisees pressing a purchaser.

Case Movant Relief Status
MH Wind Down (Mondee)
D. Del.
Tabhi Purchaser, LLC and Tabhi, Inc. (buyer) Enforce the sale order Order entered Oct. 29 (Dkt. 724)
InvaTech Pharma Solutions
D.N.J.
Advagen Holdings Inc. (buyer) Enforce the sale order Order entered Oct. 27 (Dkt. 260)
Coach USA
D. Del.
Escrow administrator Enforce the sale order and escrow agreement; quash a third-party subpoena Filed Oct. 28; objections Nov. 12; hearing Dec. 23 (Dkt. 1478)
FAT Brands
S.D. Tex.
Franchisee creditors (Round Table owners) Compel debtors and purchaser to comply with bidding procedures and sale orders Evidence closed Oct. 30 after multi-day hearing; further hearing Nov. 6 (Dkt. 1810)
And Go Concepts (Salad and Go)
S.D. Tex.
Debtors Compel Swig Stores to close two stores Continued to Nov. 6 (Dkt. 663)
Steward Health Care
S.D. Tex.
Appellant Appeal of a sale-related order; statement of issues filed Deficiency notices issued Oct. 30 (Dkt. 6813)

Source: Research Suite by Stretto, docket entries as linked.

The FAT Brands motion is the most developed of these. Filed in June 2026 by four franchisee entities, it has consumed hearing days on October 21, October 26 and October 30, with expert testimony, FBG Bid Co appearing as purchaser, and well over 150 exhibits admitted across the sessions. A short concluding hearing is set for November 6.

Section IX

Contested and delayed processes

The remaining activity concentrated in real estate and holding company cases, where sales move parcel by parcel and objections come from lenders and counterparties rather than committees.

In the jointly managed SIMAD and DAMIS cases (District of New Jersey), TruNorth Bank and an individual creditor each filed limited objections on October 26 to the designation of Barone Ventures LLC as stalking horse for the 12 Cambridge Realty and 12 Cambridge Leasing assets (DAMIS Dkt. 1492). The same day, the court heard the motion applying the SIMAD bidding procedures order to the DAMIS debtors, with an order to be submitted. In Signal National LLC, the 777 Partners case in the Northern District of Texas, a group of lenders including Advantage Capital Holdings and Haymarket Insurance Company objected on October 28 to the debtors' motion to sell a Miami condominium, after the creditors' committee reserved its rights (Dkt. 419).

Two cases recorded further delay. The hearing on Via Mizner Owner II's motion to sell all of its assets free and clear (Southern District of Florida, $450 million in assets at filing) was continued for a sixth time, to November 17, 2026 (Dkt. 240). In Supor Properties Enterprises (District of New Jersey), a creditor's motion to assign credit bid rights and compel the sale of the 600 Guyon Drive property in Harrison, New Jersey to Block G Partners Urban Renewal LLC was rescheduled to November 24 after a clerk's correction notice (Dkt. 592). F-Star Socorro's clawback guaranty dispute was continued to November 5.

Section X

The calendar ahead

The week's filings set or reset the following sale dates in large cases. Proposed dates remain subject to court approval and to extension by the debtors.

November 5, 2026
F-Star Socorro: continued hearing on the clawback guaranty dispute
November 6, 2026
Salad and Go: continued hearing on motion to compel Swig Stores; FAT Brands: concluding hearing on franchisees' motion to compel
November 12, 2026
DISH Wireless: indications of interest due for network assets (proposed); Coach USA: objections due on escrow enforcement motion
November 17, 2026
Via Mizner Owner II: continued sale hearing
On or before November 18, 2026
RiverStreet: bid procedures hearing (proposed)
November 24, 2026
Supor Properties: hearing on motion to compel sale of 600 Guyon Drive
November 25, 2026
DISH Wireless: stalking horse deadline for network assets (proposed)
November 30, 2026
Omnicare: amended outside closing date
December 15, 2026
DISH Wireless: sale hearing (proposed); RiverStreet: auction (proposed)
December 21, 2026
RiverStreet: latest proposed sale hearing date
December 23, 2026
Coach USA: hearing on escrow administrator's enforcement motion
January 7 and 14, 2027
Trajector: auction and sale hearing (as proposed)
Appendix

All large cases with sale docket activity

Debtor Case No. Court Assets ($M) Entries
DISH DBS Corporation 26-90627 S.D. Tex. 8,408 1
First Brands Group, LLC 25-90399 S.D. Tex. 5,000 2
GoldenPeaks Poland Holding Limited 26-90564 S.D. Tex. 2,000 1
Steward Health Care System LLC 24-90213 S.D. Tex. 1,500 4
Del Monte Foods Corporation II Inc. 25-16984 D.N.J. 1,500 2
InvaTech Pharma Solutions LLC 25-11482 D.N.J. 1,250 2
F-Star Socorro, L.P. 25-90607 S.D. Tex. 800 3
El Dorado Gas & Oil, Inc. 23-51715 S.D. Miss. 600 1
And Go Concepts, LLC (Salad and Go) 26-90753 S.D. Tex. 600 12
FAT Brands Inc. 26-90126 S.D. Tex. 582 3
Via Mizner Owner II, LLC 25-25197 S.D. Fla. 450 1
Trajector Holdings, LLC 26-03286 M.D. Fla. 405 1
Signal National LLC (777 Partners) 26-90190 N.D. Tex. 400 2
MH Wind Down Co. (Mondee) 25-10047 D. Del. 363 3
RunItOneTime LLC (Maverick Gaming) 25-90191 S.D. Tex. 300 2
SIMAD Holdings Ltd. 26-16388 D.N.J. 300 4
DAMIS Holdings LLC 26-16439 D.N.J. 300 5
Supor Properties Enterprises LLC 24-13427 D.N.J. 300 4
US Magnesium LLC 25-11696 D. Del. 200 2
Omnicare, LLC 25-80486 N.D. Tex. 200 3
Coach USA, Inc. 24-11258 D. Del. 200 1
RiverStreet Communications of Virginia 26-72823 E.D. Va. 170 2
BFG Supply Co., LLC 26-11284 D. Del. 150 3
Santa Paula Hay & Grain and Ranches 25-10314 C.D. Cal. 114 1

Source: Research Suite by Stretto. Assets at filing as recorded in Research Suite case data. Entries counts include de minimis notices, hearing minutes and other entries classified to the asset sale topic.

About This Report: This report reviews asset sale activity filed between October 25 and October 31, 2026 in chapter 11 cases that reported $100 million or more in assets at filing. Cases were identified in Research Suite by Stretto by searching for docket entries classified to the asset sale topic within that window, and each case's sale entries were then retrieved and reviewed. Key terms were taken directly from the underlying motions, orders and notices, which are linked throughout. Proposed dates and terms are as filed and remain subject to court approval, objection and amendment.

About Research Suite: Research Suite by Stretto is the first and only AI-enhanced research platform designed and built by restructuring professionals for the bankruptcy industry. Research Suite enables clients to locate cases and documents across jurisdictions, allowing professionals to find and understand information faster. It now also allows clients to create Precedent Packages including the innovative AI Dossier, a comprehensive comparison and analysis of up to 100 documents within and/or across cases, transforming research into strategy by extracting meaning, identifying patterns, and applying those insights to case work, drafting, and analysis. Learn more and create a free account at researchsuite.stretto.com

About Stretto Intelligence: As Stretto’s innovation engine, Stretto Intelligence applies AI where it delivers the greatest value across the complex, high-stakes workflows of legal and financial professionals with AI-fueled tools, research, and insights. Every innovation in the Stretto Intelligence portfolio meets the highest standards of security, confidentiality, and control. It embodies Stretto’s commitment to staying ahead, deploying emerging technologies with precision to drive meaningful, measurable impact.

Always review the underlying docket filings for accurate information. The information and responses generated by Research Suite by Stretto may contain errors or inaccuracies and should not be relied upon as a substitute for professional or legal advice. Use of AI features is governed by our Terms of Service.

Copyright © 2026 Stretto, Inc. All rights reserved.



← Older Post Newer Post →