Accused Arms Smuggler Sabre Sold For $5M

Law360, New York (March 18, 2011, 10:47 PM EDT) -- An Alabama company has paid $4.95 million for the assets of bankrupt gun maker Sabre Defence Industries LLC, whose owner has been indicted on arms smuggling charges, according to a bankruptcy order filed Wednesday in Tennessee.

Judge Keith M. Lundin of the U.S. Bankruptcy Court for the Middle District of Tennessee approved a deal in which Manroy USA LLC would gain control of all Sabre's assets. Sabre supplied M16 rifles to the U.S. Navy and the Marine Corps.

Manroy, a Scottsboro, Ala.-based machine gun maker, closed...
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