Worldspace Dials In On $5.5M Ch. 11 Sale To Yazmi

Law360, New York (May 20, 2010, 3:03 PM EDT) -- Satellite radio technology maker Worldspace Inc. is taking another shot at selling off its assets after two other failed attempts, this time inking a deal with Yazmi USA LLC to the tune of $5.5 million in cash.

In a motion filed in the U.S. Bankruptcy Court for the District of Delaware on Wednesday, Worldspace asked the court to approve the sale of substantially its entire business, including all real estate leases, equipment and contracts.

A hearing to consider the sale is scheduled for June 1....
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