Depot Deal Removes Stumbling Block To $39M iGPS Sale

Law360, Wilmington (July 27, 2013, 12:07 AM ET) -- Bankrupt iGPS Co.'s $39 million sale cleared the final hurdle Friday after its prospective purchaser and the parties that handle its plastic pallets defused a dispute that threatened to trip up a deal that had seemingly surmounted its biggest obstacle in winning judicial approval.

The proposed sale to a consortium of private equity firms and other investors won the blessing of a Delaware bankruptcy judge Tuesday after overcoming objections to its value, but the sale order remained unsigned as Belacon Pallet Services LLC and various depots...
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