Pallet Co. Plans Quick Ch. 11 Sale To PE Group

Law360, Wilmington (June 5, 2013, 5:25 PM EDT) -- IGPS Co. LLC filed for Chapter 11 protection in Delaware late Tuesday, aiming to resolve its liquidity crisis through a speedy stalking horse sale to a group that includes private equity firms Balmoral Funds LLC and One Equity Partners.

The Florida-based company, which leases trackable plastic shipping pallets, listed assets and liabilities between $100 million and $500 million on its petition. It intended to continue operations while marketing itself for a Section 363 sale and seeking to close a deal within 45 days, according to a...
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