June Edition 2023

88 NEXT STEPS IN THE BANKRUPTCY As a Chapter 11 debtor, the Debtor is evaluating how to generate the most value for its creditors and other stakeholders, which will take the form of either a refinancing of the existing debt or a sale of the property. If the Debtor opts to sell the property, that sale will take place pursuant to either a bankruptcy sale process involving a stalking horse purchaser and a potential auction, or as part of a plan of reorganization, which will also govern distributions to the Debtor’s creditors. Mishmeret Trust Company Limited and the other Petitioning Creditors are represented by Michael Friedman, David T. B. Audley, Eric S. Silvestri and Helena Honig of Chapman and Cutler LLP.