Prince Scores Court Approval For $74M Licensing Deal

Law360, Wilmington (June 19, 2012, 11:03 PM EDT) -- Bankrupt tennis brand Prince Sports Inc. put its reorganization back on track Tuesday after four hours of volleying in Delaware court between the racket maker and its unsecured creditors resulted in the approval of an expanded $74 million licensing agreement and other key pacts.

Prince and the official committee of its unsecured creditors reached a global agreement that netted $4 million for the creditors, which withdrew all opposition to Prince's proposed motions. U.S. Bankruptcy Judge Kevin J. Carey signed off on Prince's licensing deal, disclosure statement...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.