MacKeyser bid procedures for impending asset sales accepted by court

By Kali Hays

New York, Aug. 7 – MacKeyser Holdings, LLC obtained approval of bid procedures related to the sale of its remaining physician practice location assets, according to an Aug. 7 order with the U.S. bankruptcy Court for the District of Delaware.

As previously reported, MacKeyser intends to sell the associated property lease for each location along with all of the equipment and miscellaneous inventory located at each.

The company will accept bids for one or more of the locations and for any or all of the assets at each location, according to the procedures motion.

Qualified bids are not subject to any due diligence or financing contingency but must be accompanied by a deposit equal to 5% of the cash purchase price.

Under the proposed procedures, the bid deadline is set for Aug. 21 with an auction to take place Aug. 26.

MacKeyser, its committee and debtor-in-possession lenders will decide how to group the assets for the purposes of an auction.

A hearing to approve any sale is set for Sept. 3.

Las Vegas-based MacKeyser Holdings and operating affiliates American Optical Services, LLC and Exela Hearing Services, LLC manage integrated eye care and hearing systems providers. The company filed for bankruptcy on June 20 under Chapter 11 case number 14-11550.

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