Bankrupt New York City live music venue and festival owner Avant Gardner will move forward with a deal allowing lender Axar Capital Management LP to buy most of its assets, including its Brooklyn Mirage stage.
Axar affiliate AG Acquisition 1 LLC’s credit bid of at least $110 million was approved at a hearing Wednesday by Judge Mary F. Walrath of the US Bankruptcy Court for the District of Delaware over objections from several merchant cash advance lenders
The price tag includes forgiveness of some pre-bankruptcy secured loans and all of the company’s pledged $45.8 million in bankruptcy financing, according to …