Landauer Creditors Say Planned $22M Sale Moving Too Fast

Law360, Wilmington (September 6, 2013, 9:08 PM EDT) -- Unsecured creditors of Landauer-Metropolitan Inc. urged a Delaware bankruptcy judge Friday to put  the brakes on the medical equipment supplier's planned $22 million stalking horse sale, saying the proposed bidding procedures set an overly hasty schedule.

Landauer Metro's plans to complete a Section 363 sale process by the end of the month, combined with other restrictive provisions, would deter competing bidders from emerging, according to an objection filed by the official committee of unsecured creditors.

“If approved, the proposed sale procedures would authorize the debtors to...
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