Judge OKs Greatwide Sale Procedures

Law360, New York (November 17, 2008, 12:00 AM EST) -- A judge has approved bankrupt transport service group GWLS Holdings Inc.'s plan to sell substantially all its assets, overruling objections by creditors that the company is planning to sell its assets to its first-lien holders without seriously considering other bids.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware ruled Friday that GWLS, which includes Greatwide Logistics Services Inc., has given interested parties sufficient notice of the procedures for the sale, and negotiated the stalking horse bid, put forward by its...
To view the full article, register now.