Henry Ford Village seeks court approval of bid procedures for assets

By Sarah Lizee

Olympia, Wash., Dec. 3 – Henry Ford Village, Inc. is seeking court approval of the bid procedures for the sale of substantially all of its assets, according to a motion filed Wednesday in the U.S. Bankruptcy Court for the Eastern District of Michigan.

Under the bid procedures, the company has the option to enter into a stalking horse agreement by March 26. Bid protections would include a break-up fee of up to 3% and an expense reimbursement of up to $400,000.

The bid deadline would be April 30, and an auction would be held on May 4, if needed.

A sale hearing would be held on May 24.

Henry Ford Village is a senior living community based in Dearborn, Mich. The company filed Chapter 11 bankruptcy on Oct. 28 under case number 20-51066.

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