This is a summary of an article originally published by Law360. Read the full article here.

Law360 reported that a New Jersey bankruptcy judge approved the sales of more than two dozen U.S. summer camps owned by SIMAD Holdings, concluding a complex Chapter 11 sale process that generated nearly $448.8 million for creditors while allowing the camps to continue operating during the summer season.

Cole Schotz represents SIMAD in the proceedings. Member Michael Sirota, who has practiced for 40 years, described the matter as presenting “some of the greatest challenges” of his career. He noted that the bankruptcy process helped avoid potentially significant disruptions for approximately 20,500 children who attend the camps each summer.

Cole Schotz member Felice Yudkin also highlighted the complexity of the process, which involved individual sales for numerous camps, each requiring its own approach. “These were not merely parcels of real estate,” Yudkin said, emphasizing the strong emotional and institutional ties surrounding the properties.

The debtor is represented by Cole Schotz attorneys Michael D. Sirota, Warren A. Usatine, David M. Bass, Felice R. Yudkin and Daniel J. Harris.

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