Borden Dairy Sets June Auction For Possible Ch. 11 Sale

Law360 (May 22, 2020, 2:56 PM EDT) -- A Delaware judge on Friday approved plans for Borden Dairy Co. to hold an auction next month to potentially sell its assets, as the milk supplier continues to pursue a dual Chapter 11 path that could sell assets or set a plan to restructure its debt and business.

During a hearing held via phone, U.S. Bankruptcy Judge Christopher S. Sontchi signed off on Borden's sale procedures after some stakeholder squabbles over lien issues and other matters were put off until a sale hearing, if one is to be held. Potential buyers have until June 1 to submit bids seeking to buy...

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