Hostess Now Set To Begin Wind-Down With Judge's OK

Law360, New York (November 21, 2012, 5:07 PM EST) -- Hostess Brands Inc. can begin winding down its business and selling off its assets and brands, with a New York bankruptcy judge granting its emergency liquidation motion Wednesday after the Twinkie maker was unable to reach an agreement with its bakers union in mediation Tuesday.

After a nearly five-hour hearing, U.S. Bankruptcy Judge Robert D. Drain approved two motions the debtor filed related to the proposed wind-down, expressing regret that the parties were back before him on the matter after the unsuccessful attempt to reach consensus...
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