Revstone Unit Sale To Proceed Despite Suitor's Challenge

Law360, Wilmington (January 16, 2014, 5:42 PM EST) -- A Delaware bankruptcy judge on Thursday denied a request by Angstrom Automotive Group LLC to halt Revstone Industries LLC's sale of a nondebtor unit, agreeing with part of the debtor's argument that the bankruptcy court did not have jurisdiction in the matter.

During an emergency hearing in Wilmington, Del., U.S. Bankruptcy Judge Brendan L. Shannon sided against Angstrom, which claimed it had been promised there would be an auction for Revstone's nondebtor unit Creative Lighting Solutions LLC but was surprised when the target went with another...
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