Depot Deal Removes Stumbling Block To $39M iGPS Sale

Law360, Wilmington (July 27, 2013, 12:07 AM EDT) -- Bankrupt iGPS Co.'s $39 million sale cleared the final hurdle Friday after its prospective purchaser and the parties that handle its plastic pallets defused a dispute that threatened to trip up a deal that had seemingly surmounted its biggest obstacle in winning judicial approval.

The proposed sale to a consortium of private equity firms and other investors won the blessing of a Delaware bankruptcy judge Tuesday after overcoming objections to its value, but the sale order remained unsigned as Belacon Pallet Services LLC and various depots...
To view the full article, register now.
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.