Arizona-based MD Helicopters Inc. told a Delaware bankruptcy judge Tuesday that it has accepted a $210 million credit bid for its assets, saying no other qualified buyers stepped up to challenge the stalking horse offer from a creditor consortium.
Distressed debt mogul Lynn Tilton has asked the Delaware Chancery Court to stay a May 31 order that found her self-appointment as manager of cosmetic company Stila Styles LLC invalid, saying she intends to seek an expedited appeal.
A Delaware judge ruled Tuesday that turnaround mogul Lynn Tilton's takeover of cosmetics company Stila Styles LLC in 2017 was invalid but stopped short of saying who the manager should be, leaving in limbo a Chapter 11 effort to appoint Kevin Carey, a retired bankruptcy judge, as manager of the cosmetics business.