M&G USA Gets Nod For $33.5M West Virginia Plant Sale

Law360, Wilmington (February 1, 2018, 9:56 PM EST) -- A Delaware bankruptcy judge gave M&G USA Corp. the green light Thursday to sell its West Virginia plastics plant to a unit of Taiwanese conglomerate Far Eastern New Century, which won a Chapter 11 auction with a $33.5 million bid that more than doubled the stalking horse bid.

During a hearing in Wilmington, U.S. Bankruptcy Judge Brendan L. Shannon agreed to OK the sale by bankrupt M&G affiliate M&G Polymers USA LLC after hearing that Far Eastern Investment (Holding) Ltd. put in the top bid that...
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