Bankrupt Landauer Balks At Rival's Motion To Litigate NY Suit

Law360, Wilmington (January 10, 2014, 10:49 PM EST) -- The bankruptcy estate of Landauer-Metropolitan Inc. objected in Delaware bankruptcy court Friday to a request by former suitor and rival Passaic Healthcare Services LLC to lift the automatic stay on a New York lawsuit over a soured merger and breached agreements.

Passaic Healthcare, which does business as Allcare Medical, has accused medical equipment supplier Landauer of violating a letter of intent and exclusivity agreement connected to a scuttled merger, and has asked the stay be lifted in part to defend against counterclaims from the debtor that...
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.