Canadian IT Firm Xchange Gets Nod For Sale, Ch. 15

Law360, Wilmington (November 25, 2013, 6:32 PM EST) -- A Delaware bankruptcy judge on Monday granted Chapter 15 recognition to Canadian information technology company  Xchange Technology Group LLC and approved its sale to its primary creditor.

At a hearing in Wilmington, U.S. Bankruptcy Judge Kevin Gross found there was an ample record supporting approval of Xchange's Chapter 15 petition and its sale to Callidus Capital Corp.

“I'm pleased to sign both orders,” Judge Gross said.

Headquartered in the Toronto suburb of Oakville, Xchange was ordered into receivership in October by an Ontario judge, and court-appointed...
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