Bankrupt Revstone Gets Green Light For Aluminum Biz Sale

Law360, Wilmington (May 30, 2013, 9:05 PM EDT) -- A Delaware bankruptcy judge gave the go-ahead Thursday for Revstone Industries LLC to sell the assets of its aluminum forging affiliate to Angstrom Automotive for more than $4 million in a deal that resolved fears from two secured creditors over how that money would be dispersed.

At a sale auction the previous day, Angstrom placed the winning bid to acquire the assets of Greenwood Forgings LLC at a price well above the $2.5 million floor set by stalking horse bidder American Axle & Manufacturing Inc., one...
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