Legacy Cares seeks court approval of bid procedures for assets

By Sarah Lizee

Olympia, Wash., Aug. 7 – Legacy Cares, Inc. filed bid procedures for its assets with the U.S. Bankruptcy Court for the District of Arizona on Friday.

The company said it hasn’t entered into a stalking horse agreement with anyone yet but it may want to do so in the future.

The deadline to file a stalking horse selection notice would be 2:59 a.m. ET on Sept. 12.

If a stalking horse is chosen, competing bids would have to exceed the stalking horse bid plus the amount of the bid protections and the minimum bid increment of $500,000.

The bid deadline would be 3 p.m. ET on Sept. 18, an auction would take place on Sept. 27 and a sale hearing would occur on Oct. 3.

Legacy Cares is a non-profit corporation that owns Legacy Park, formerly known as Bell Bank Park, a 320-acre sports and entertainment complex in Mesa, Ariz. The company filed bankruptcy on May 1 under Chapter 11 case number 23-02832.

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