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Wayzata Appeals Foamex Sale To MatlinPatterson

Law360 (June 9, 2009, 12:00 AM EDT) -- After being passed over in last month’s reopened auction for Foamex International Inc., Wayzata Capital Investment Partners LLC is appealing the bankruptcy court’s decision to go with the stalking horse bidder’s $155 million credit offer instead of a cash bid Wayzata says provides a higher return for creditors.

On Monday, Wayzata notified Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware that it was appealing the May 27 order authorizing the sale of the Foamex assets to a group led by...
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