Bloomberg Law is reporting that a California-based investment firm, JMB Capital Partners, bid $115 million at the Bouchard asset auction on Monday. JMB Capital specializes in distressed assets and bankruptcies, and also has provided debtor-in-possession financing in bankruptcy cases.
Praise Gilgamesh and good riddance to bad rubbish
The nostalgic mariner part of me should feel bad to see a 100+ year US family owned maritime company come to an end but I never heard a single person say anything good about Morton S Bouchard III so I feel indifferent about it. Even the nice guys didn’t say anything favorable about him. I guess Mortys GoFundMe page won’t be earning too much cash either?