GST AutoLeather Sale Stalls Amid Creditor Infighting

Law360, Wilmington (January 22, 2018, 7:31 PM EST) -- Bankrupt GST AutoLeather Inc.’s bid to sell its assets to its senior lenders in a deal valued at $172 million failed to get off the ground Monday after volatile infighting between secured and unsecured creditors flared up, leaving the proposed sale caught in the crossfire.

During a hearing in the Delaware bankruptcy court, the auto upholstery supplier’s proposed sale to a group of first-lien creditors administered by Royal Bank of Canada stalled right out of the gate when a dispute that’s been brewing since early in...
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