Hussey Copper Cleared For $108M Asset Sale To Patriarch

Law360, Wilmington (November 16, 2011, 4:50 PM EST) -- A Delaware bankruptcy judge gave Hussey Copper Corp. the green light on Wednesday to sell its assets to private equity firm Patriarch Partners LLC for $107.8 million, overruling objections from two disgruntled bidders claiming they were prematurely ejected from the auction.

Patriarch, the buyout firm of distressed-debt mogul Lynn Tilton, snatched up the copper products company at a bitterly contested auction on Monday, outbidding rival private equity firm KPS Capital Partners LP, strategic buyer Revere Copper Products Inc., and Nehoshet Enterprises Inc.

U.S. Bankruptcy Judge Brendan...
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