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Here are some of the latest bankruptcy stories our reporters have been covering Monday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.
Atalaya looks to save Bennigan's
Franchisees of restaurant chain Bennigan's Grill & Tavern may not be out of business. Atalaya Capital Management LP a secured lender of bankrupt S&A Restaurant Corp., the chain's parent, is attempting to keep the franchise alive as it maneuvers through the complicated construction of the chain's trademarks, its franchising structure and security underlying the debt. - Matt Miller Omni to buy, flip Sababa assets Toymaker Sababa Group Inc. is preparing to sell its assets to lender Omni Commercial LLC unless a rival bidder steps forward in the next few weeks. Sababa, which makes licensed specialty versions of well-known kids games such as Etch-A-Sketch, Rubik's Cube and the original Magic 8 Ball, will put its assets on the block Sept. 13. - Ben Fidler Zestra sale to stalking horse OK'd A Delaware judge on Friday, Aug. 22 approved a $2.5 million sale of Zestra Laboratories Inc. to an affiliate of postpetition lender Jannick Group LLC. - John Blakeley Diet Channel wins DIP, sale OK Executives of Diet Channel Network Inc. are ready to pounce on the media company now that a New York bankruptcy judge has deemed their debtor-in-possession financing package up to snuff. DCN, which owns a Web site dedicated to dieting, won interim approval of a $45,000 debtor-in-possession loan and bidding procedures that set up a sale to members of its board. - Ben Fidler Categories Deal Video
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