Aerogroup's $4M Ch. 11 Settlement With Ex-Suitor Approved

Law360 (May 13, 2019, 8:14 PM EDT) -- A $4 million settlement between former women’s shoe retailer Aerogroup International Inc. and a company that walked away from a Chapter 11 deal to buy the debtor’s assets received court approval Monday in Delaware, with a judge saying the deal is in the best interests of the estate and its creditors.

U.S. Bankruptcy Judge Kevin J. Carey said the deal settles litigation involving the debtor and Global Brands Group that arose after GBG terminated its agreement to purchase the assets of the debtor and license its trademarks, and avoids the uncertainty of the ultimate results of Aerogroup’s suit.

“The debtors have...

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