Borders' $14M IP Sale To Barnes & Noble Approved

Law360, New York (September 26, 2011, 5:44 PM EDT) -- A New York bankruptcy judge on Monday approved bankrupt Borders Group Inc.'s plan to sell its intellectual property to Barnes & Noble Inc. for $13.9 million after the two companies made concessions to ease his concerns about customer privacy.

U.S. Bankruptcy Judge Martin Glenn had put the sale on hold after the Federal Trade Commission and 24 state attorneys general expressed concern that Borders' private policies might not allow it to transfer its customer database to its former rival.

To help alleviate the concerns, Borders and...
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