American Laser Trustee Protests Speedy Sale

Law360, New York (January 4, 2012, 1:30 PM EST) -- The U.S. trustee for American Laser LLC's bankruptcy filed an objection Tuesday to the fast sale of the laser hair removal company to private equity lender Versa Capital Management LLC, saying the sale's speed will prevent adequate marketing of the assets to other potential bidders.

American Laser, along with its parent company, ALC Holdings LLC, entered bankruptcy Dec. 8 intending to aid in the $30 million sale to Versa, but U.S. Trustee Roberta DeAngelis believes the proposed bidding procedures are flawed and could prevent the bankrupt...
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