Dish’s bid was declared the highest and best offer after an auction April 6. On April 21, the day the sale had been projected to close, Blockbuster told the bankruptcy judge overseeing its Chapter 11 case that it needed to give Dish more time to decide which of 1,500 leases to keep or reject.
The revised offer approved today gives Dish another 90 days to decide on leases and business contracts, which should allow the company to keep more leases and jobs, Blockbuster lawyer Stephen Karotkin said. Dish, based in Englewood, Colorado, is the second-largest U.S. satellite-television provider.
“I do find there is adequate consideration to support the amendment,” U.S. Bankruptcy Judge Burton Lifland said today while overruling all remaining objections to the deal.
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Most bankruptcy filers are slightly better educated than the general population.
2 out of 3 Bankruptcy filers have lost their jobs.
50% of all bankruptcy filers have experienced serious health problems.
91% of bankruptcy filers have suffered a job loss, medical crisis or divorce.
40% of bankruptcies are a result of medical crises, unemployment or divorce.
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