Zohar III wins court OK to sell Michigan property for $1.1 million

By Sarah Lizee

Olympia, Wash., Feb. 19 – Zohar III, Corp. received court approval to sell a parcel of land in Saline, Mich., for $1.1 million, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Saline Metal Systems, LLC, a subsidiary of Global Automotive Systems, LLC, of one of the debtors’ portfolio companies, entered into a purchase and sale agreement dated Oct. 27 with Abdul Saleh on behalf of a to-be-formed entity.

Zohar is a Grand Cayman, Cayman Islands-based collateralized debt obligation. The company filed bankruptcy on March 11, 2018 under Chapter 11 case number 18-10512.

© 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.