We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Bank Of NY Seeks To Cut Norwood Price Tag By $56M

Law360 (May 21, 2009, 12:00 AM EDT) -- The Bank of New York Mellon has filed an objection to the sale of bankrupt promotional gifts supplier Norwood Promotional Products Holdings Inc.'s assets, claiming that the proposed price tag is $56 million too high and that as an agent for certain lenders, it also plans to make a bid for Norwood's assets.

The bank filed its objection in the U.S. Bankruptcy Court for the District of Delaware on Wednesday, two weeks after Norwood asked the court to approve bidding procedures and a stalking horse agreement...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.