Nellson's Creditors Seal $153.5M Buyout Deal

Law360, New York (August 24, 2007, 12:00 AM EDT) -- A federal bankruptcy judge has given the green light to a buyout deal that will see creditors of Nellson Nutraceutical Inc. shelling out $153.5 million to purchase the embattled diet bar maker's assets.

U.S. Bankruptcy Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware gave his stamp of approval to the sale on Friday, ruling that the purchase agreement constituted the “highest and best offer for the saleable assets and will provide a greater recovery for the debtors' estates than would...
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