L.I.D. On Brink Of Asset Sale

Law360, New York (April 23, 2008, 12:00 AM EDT) -- After more than a year spent in Chapter 11, diamond wholesaler L.I.D. Ltd. has signaled its intention to sell off its assets, notifying creditors of the bidding procedures that have already been approved by the bankruptcy court.

On Tuesday, L.I.D. detailed the proposed asset sale for the parties of interest, indicating that qualified bids were due no later than May 12 and that the procedure already had the blessing of the U.S. Bankruptcy Court for the Southern District of New York.

“Please take notice that on...
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