Garrett Motion Gets OK On $2.6B Stalking Horse Bid In Ch. 11

Law360 (October 23, 2020, 6:01 PM EDT) -- A New York bankruptcy judge approved a $2.6 billion stalking horse agreement to set a floor for the assets of auto parts maker Garrett Motion that includes a disputed $84 million in bid protections, saying the deal is needed to ensure a competitive sale and plan process.

During a virtual hearing, U.S. Bankruptcy Judge Michael Wiles said the stalking horse offer from KPS Capital Partners would serve a critical role in the Chapter 11 case as Garrett Motion pursues a sale of its assets, and that the bid protections — including a $63 million breakup fee if the debtor closes a...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!