Phoenix $50M Ch. 11 Sale Ok'd Despite 11th-Hour IP Dispute

By Matt Chiappardi (September 23, 2014, 9:04 PM EDT) -- A Delaware bankruptcy judge gave the green light Tuesday to card transaction processor Phoenix Payment Systems Inc.'s $50 million sale to North American Bancard LLC, despite eleventh-hour opposition from another card processor, which argued the transaction could include software it owns, stretching the hearing into a tense evidentiary proceeding....

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