PSL-NA To Change $100M Sale Plan Over Creditor Concerns

Law360, Wilmington (July 10, 2014, 8:07 PM ET) -- Bankrupt pipe manufacturer PSL-North America LLC said in a court filing Thursday that it will alter both its $100 million stalking horse sale plan and its motion for final approval of debtor-in-possession financing to address concerns raised by one of its secured creditors.

In a reply motion before the Delaware bankruptcy court, PSL-NA, which provides pipe to the oil and gas industry, said it would change the bid procedures for the proposed sale of its assets to allow the debtor to consider alternative transaction structures from...
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