Below are details of four additional pleadings filed last week that caught our attention. Click the links to view the pleading, with a copy of our new AI-powered summary attached.
Notice of Successful Bidders and Backup Bidders for Sale of (A) PokerCo Assets and (B) Z Casino, the Mobil Gas Station, and Related Assets (In re RunItOneTime LLC, et al.)
This filing notifies interested parties of the results of the PokerCo/Z Casino Auction conducted on September 19, 2025. The Debtors selected Maverick Gaming LLC as the successful bidder for the PokerCo Assets with a bid of $28 million, and Alter Domus (US) LLC (as Agent under the DIP Facility and Prepetition Credit Facility) as the successful bidder for the Z Casino Assets with a credit bid of $26.25 million. The Debtors will seek approval of the PokerCo Assets sale at the September 24, 2025 Sale Hearing and the Z Casino Assets sale at a later hearing on October 9, 2025.
More original details are available from the Bidding Procedures Motion filed on August 1st.
Letter Opinion (In re New Rite Aid, LLC, et al.)
This opinion resolves SVAP III Plaza Mexico's objection (ECF No. 1873) to Debtor New Rite Aid's attempt to assume and assign a lease to Ross Dress for Less, Inc. as part of a package bid for 18 leases. The Court approves the assumption and assignment, finding that: (1) Debtors' decision to accept the Ross Package Bid was within their sound business judgment, and (2) Ross satisfies the "adequate assurance of future performance" requirement under 11 U.S.C. § 365(b) (3)(A), as Ross's financial condition is significantly stronger than the original tenant's was at the time the lease was executed and when Debtors acquired the tenant.
Debtors' Emergency Motion for Entry of an Order (I) Approving Asset Marketing Agreement with Arc Impact Acquisition Corp.; (II) Authorizing the Sale of Inventory Free and Clear of Liens, Claims, Interests, and Encumbrances; and (III) Granting Related Relief (In re Desktop Metal, Inc., et al.)
This emergency motion seeks court approval for Desktop Metal, Inc. and affiliated debtors to enter into an Asset Marketing Agreement with Arc Impact Acquisition Corp. ("Arc"), authorizing Arc to act as the Debtors' marketing and sales agent for remaining inventory and to collect certain receivables. The agreement would be effective retroactively from September 17, 2025. The Debtors argue the arrangement represents a sound exercise of business judgment as Arc, having previously purchased certain Debtors' assets, possesses specialized knowledge to maximize value from these remaining assets. Arc would receive a commission of 20% on inventory sales (15% for bulk sales) and 20% on receivables collected. Emergency consideration is requested due to the need to maximize estate value while minimizing administrative expenses in advance of the Debtors' anticipated plan confirmation.
Disclosure Statement in Support of Joint Chapter 11 Plan of Liquidation (In re LeFever Mattson, et al.)
This disclosure statement outlines a proposed Joint Chapter 11 Plan of Liquidation for LeFever Mattson, its affiliated debtors, KS Mattson Partners, LP, and the Official Committee of Unsecured Creditors. The plan proposes a global settlement to address the aftermath of an alleged Ponzi scheme, which supposedly involved selling fictitious interests in real estate entities and misappropriating investor funds. The plan provides for substantive consolidation of all debtors, creates a Plan Recovery Trust to monetize and distribute assets, and implements a "netting" approach for investor claims. The proposed settlement aims to maximize recoveries while avoiding years of costly litigation to untangle the complex, allegedly fraudulent web of transactions between debtor entities that would otherwise diminish investor recoveries.