Borders Sees Hurdles For Sale Procedure Hearing

Law360, New York (July 12, 2011, 7:36 PM EDT) -- Borders Group Inc. warned a New York bankruptcy judge on Tuesday that it continues to face a host of objections to procedures for auctioning itself off, potentially complicating matters as the bookseller strives to meet a tight sale deadline imposed by lenders.

The retailer lodged a filing in Manhattan court telling U.S. Bankruptcy Judge Martin Glenn that many of the objections are premature and expressing hope that concerns can be worked out ahead of a hearing on the bidding procedures scheduled for Thursday. Borders asked the...
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