Vedder Thinking | News Michael Eidelman Counsels Victory Park Capital in Acquisition of Giordano’s Assets from Bankruptcy
Michael M. Eidelman, Shareholder and Co-Chair of Vedder Price’s Corporate Reorganization practice group, led the team that advised VPC Pizza Holdings, LLC, an affiliate of Victory Park Capital (VPC), in its successful $52 million bid to purchase the operating assets of Chicago-based Giordano’s Enterprises, Inc. from the Chapter 11 bankruptcy trustee appointed in the Giordano’s bankruptcy cases.
The sale, which is expected to close at the end of November, includes substantially all of Giordano’s assets, including its flagship property at 740 N. Rush Street in Chicago. VPC, which is also based in Chicago, submitted the $52 million bid during a lengthy auction last week. The sale was approved by the U.S. Bankruptcy Court for the Northern District of Illinois on Friday, November 18, 2011.
Mr. Eidelman served as lead counsel throughout the deal. Shareholders Matthew T. O’Connor and Joseph H. Kye and Associate Andrew Torre assisted with the financing, mergers and acquisitions, and real estate aspects of the matter, respectively.