Questex Media: First-lien lenders' bid for assets gets court approval

By Lisa Kerner

Charlotte, N.C., Nov. 25 - Questex Media Group, Inc.'s first-lien lenders led by QMG Acquisition, LLC made a credit bid for the company's assets and it was approved, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The auction for the company's assets was canceled after no qualified bids were received by the deadline, a prior court filing said.

As previously reported, the first-lien lenders were the stalking horse bidder.

It was also previously noted that Questex's committee of unsecured creditors filed an objection to the proposed sale because it believed more time was needed to ensure the sale brings the maximum possible proceeds.

Questex Media, a Newton, Mass., business-to-business integrated media provider, filed for bankruptcy on Oct. 5. Its Chapter 11 case number is 09-13423.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.