Liberty Medical Can't Reject $40M Asset Deal, Judge Says

Law360, Wilmington (April 17, 2013, 7:56 PM EDT) -- A Delaware bankruptcy judge on Wednesday nixed Liberty Medical Supply Inc.'s bid to reject a $40 million deal with Alere Inc., ruling the option agreement to transfer its diabetes testing supply business in exchange for the cancellation of debt is not an executory contract.

Liberty Medical and parent ATLS Acquisition LLC filed for bankruptcy Feb. 15, the date the asset deal was set to close, and a week later asked the court for permission to reject the contract, asserting this was permissible because Alere had not...
To view the full article, register now.




Case Information

Case Title

ATLS Acquisition, LLC

Case Number




Nature of Suit

Date Filed

February 15, 2013

Law Firms


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.