March 24, 2017 5:20 PM ET

Hotels, Restaurants and Leisure

Company Overview of Z'Tejas Restaurant Holdings, LP

Company Overview

Z'Tejas Restaurant Holdings, LP, through its subsidiaries, owns and operates restaurants. The company is based in Scottsdale, Arizona.

6909 East Greenway Parkway

Suite 195

Scottsdale, AZ 85254

United States

Key Executives for Z'Tejas Restaurant Holdings, LP

Z'Tejas Restaurant Holdings, LP does not have any Key Executives recorded.

Z'Tejas Restaurant Holdings, LP Key Developments

Amended Asset Purchase Agreement Filed by Z'Tejas Scottsdale, LLC

Z'Tejas Scottsdale, LLC filed an amended asset purchase agreement in the US Bankruptcy Court for the sale of substantially all of the assets of Z'Tejas Scottsdale LLC on September 29, 2015. As per agreement filed, Cornbread Ventures, LP, has been appointed as the stalking horse bidder with a purchase price which consists of a credit bid in the amount of $1.13 million, cash in the amount of $2.64 million plus the assumption of certain liabilities as per the agreement dated September 27, 2015. All interested parties will make a good faith cash deposit of $0.28 million.

Motion for Asset Sale Approved for Z'Tejas Scottsdale, LLC

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Z'Tejas Scottsdale LLC on September 29, 2015. The debtor has been authorized to sell substantially all its assets to Cornbread Ventures, LP, the stalking horse bidder for a purchase price which of consists of a credit bid in the amount of $1.13 million, cash in the amount of $2.64 million plus the assumption of certain liabilities as per the agreement dated September 27, 2015.

Final DIP Financing Approved for Z'Tejas Scottsdale, LLC

The US Bankruptcy Court gave a final order to obtain post petition financing to Z'Tejas Scottsdale, LLC on August 26, 2015. The Court has authorized the debtor to obtain post petition term loan of $0.73 million from Cornbread Ventures, LP. The interest rate will be 12% per year. The maturity date of the DIP loan will be earliest to of a sale consummation of all assets, December 31, 2015 or default date. The adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.1 million.

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Recent Private Companies Transactions

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Date
Target
No transactions available in the past 12 months.
 

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