Relativity Bankruptcy Auction: Speed Is an Issue (EXCLUSIVE)August 5, 2015 – Article
The speed with which Relativity is put up for auction is already proving to be contentious after Judge Michael Wiles rejected a proposal for a $45 million loan because it had an Oct. 2 sale date as a condition for extending the money. The lenders who are offering the financing, who compromised by agreeing to a smaller $9.5 million loan, are expected to return to court next week. “The lenders are saying, ‘The company is going to run out of money — it’s a melting ice cube,'” said Brian Davidoff, an attorney from Greenberg Glusker.
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