Trustee Objects To $22M Bid For Mandee, Annie Sez Owner

Law360, New York (April 10, 2013, 5:21 PM EDT) -- The U.S. trustee for New Jersey on Wednesday objected to Canadian retailer YM Inc.’s $22 million stalking-horse bid for the bankrupt owner of the Mandee and Annie Sez clothing store chains, saying the deal prematurely offers YM certain protections and special fees.

Roberta A. DeAngelis, the U.S. trustee for Region 3, which covers New Jersey, Pennsylvania and Delaware, filed a limited objection in New Jersey bankruptcy court to beleaguered retailer Big M Inc.’s April 6 sale procedures motion seeking approval for the deal, under which Big...
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