DVD Co. Cinram Gets US Clearance For $83M Sale To Najafi

Law360, Wilmington (July 25, 2012, 7:41 PM EDT) -- Toronto-based DVD maker Cinram International Ltd. won Delaware bankruptcy court approval Wednesday to sell its assets to private equity firm Najafi Cos. for $82.5 million.

U.S. Bankruptcy Judge Kevin J. Carey signed off on the sale during a hearing, joining the court overseeing the company’s insolvency proceedings in Canada, which cleared the deal two weeks ago.

Battered by the sluggish economy and Internet-based media, Cinram filed for Chapter 15 bankruptcy June 25 in conjunction with proceedings under Canada's Companies' Creditors Arrangement Act in order to facilitate...
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