News

Darryl Laddin Mentioned on Deal Watch
April 01, 2010
Arnall Golden Gregory LLP
AGG Partner Darryl Scott Laddin was mentioned in an article titled, “Stalking Horse Gets Outbid in Swoozie’s Auction,” published on April 1, 2010 on Deal Watch—The Blog, a website of the Daily Report. Swoozie’s, an Atlanta-based paper-and-party supply store, was auctioned off for $2 million more than a stalking horse bidder offered for the bankrupt company. According to the article, “A stalking horse bidder is one chosen by a bankrupt company from a pool of other contenders that—in exchange for some downside protections if it doesn't tender the winning bid—launches bidding on the asset at an agreed-upon starting price, effectively protecting the seller from lowball offers.” Hilco Merchant Resources tendered the winning bid of $7,425,000 to purchase the company. Mr. Laddin represented the official committee of unsecured creditors.