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Zohar III wins court OK to sell Michigan property for $1.1 million
By Sarah Lizee
Olympia, Wash., Feb. 19 – Zohar III, Corp. received court approval to sell a parcel of land in Saline, Mich., for $1.1 million, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.
Saline Metal Systems, LLC, a subsidiary of Global Automotive Systems, LLC, of one of the debtors’ portfolio companies, entered into a purchase and sale agreement dated Oct. 27 with Abdul Saleh on behalf of a to-be-formed entity.
Zohar is a Grand Cayman, Cayman Islands-based collateralized debt obligation. The company filed bankruptcy on March 11, 2018 under Chapter 11 case number 18-10512.
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