Hostess Wins Judge's Final Blessing For Wind-Down

Law360, New York (November 29, 2012, 7:03 PM EST) -- A New York bankruptcy judge on Thursday gave Hostess Brands Inc. the final go-ahead to wind down its business and sell off its assets and brands, overruling objections lodged by a company union and pension fund.

U.S. Bankruptcy Judge Robert D. Drain rejected a plea by the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union and the Bakery and Confectionery Union and Industry International Pension Fund to delay the wind-down, citing concerns that the Twinkie maker may run out of cash.

Hostess’ solvency is beside...
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