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Pallet Company LLC

  1. July 02, 2014

    New York, IGPS Buyer Can Wrap Tax Audit, Begin Deal Talks

    A Delaware bankruptcy judge agreed Wednesday to push back a hearing on a challenge to estimated tax claims brought by the private equity-backed purchaser of bankrupt iGPS Co. LLC, giving New York state's taxation agency time to complete an audit and hammer out a potential settlement with iGPS.

  2. May 29, 2014

    IGPS Purchaser Is Being Legally Taxed, Says NY AG

    New York Attorney General Eric T. Schneiderman and the state's taxation agency on Wednesday slammed an objection by the private equity-backed purchaser of bankrupt iGPS Co. LLC to an estimated tax claim, saying the company's foot-dragging during an audit necessitated the assessment.

  3. July 27, 2013

    Depot Deal Removes Stumbling Block To $39M iGPS Sale

    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.

  4. July 23, 2013

    Bankrupt iGPS Wins Nod For $39M Sale Despite Fierce Flak

    Plastic pallet leaser iGPS Co. got the green light Tuesday for its $39 million sale to a consortium of private equity firms and other investors as a Delaware bankruptcy judge overruled objections that the deal left hundreds of millions of dollars on the table.

  5. July 12, 2013

    IGPS Ch. 11 Auction Floor Too Low, Say US Trustee, Ex-CEO

    The U.S. Trustee's Office and the founder and former CEO of bankrupt plastic pallet maker iGPS Co. on Friday blasted the company's sale plan, arguing that the $36 million auction floor is too low for a debtor they say could have more than $500 million in assets.

  6. July 01, 2013

    IGPS Auction Plan Gets Nod, But Judge Wary Of Price

    A Delaware bankruptcy judge gave his nod Monday to plastic-pallet maker iGPS Co. LLC's plan to auction itself off, but said his final approval of the actual sale was far from a sure thing unless the floor price set by a joint venture that includes two private equity firms goes up "considerably."

  7. June 28, 2013

    IGPS Creditors' Committee Says Ch. 11 Loan Budget Too Low

    Criticism of plastic pallet maker iGPS Co. LLC's bankruptcy strategy is mounting as the creditors' committee objected Friday to the company's bid for $12 million in post-petition financing, arguing that the loan's budget is too low to get the company through the Chapter 11 process.

  8. June 25, 2013

    US Trustee Protests IGPS Plan For Ch. 11 Sale

    The U.S. Trustee's Office on Monday slammed what it called an "overly aggressive" bankruptcy sale of plastic pallet company iGPS Co. LLC, which recently collapsed under the weight of a $250 million credit agreement, to a private equity-led group.

  9. June 07, 2013

    Pallet Co. IGPS Wins $12M DIP Loan, Sets Stage For Sale

    Plastic pallet company iGPS Co. LLC won approval of a crucial $12 million loan Friday, allowing it to fund a quick sale to a private equity-led group that was threatened by several disputes a day earlier in Delaware bankruptcy court.

  10. June 06, 2013

    Bankrupt Pallet Co.'s $12M DIP Loan Bid Put On Hold

    Plastic pallet company iGPS Co. LLC hit a roadblock right out of the starting gate Thursday when a Delaware bankruptcy judge did not sign a crucial request for a $12 million post-petition loan that would help fund a quick sale to a private equity-led group.

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