Bankrupt MedLab Gets Nod For $5.5M Unit Sale

Law360, Wilmington (June 11, 2014, 3:04 PM EDT) -- Clinical testing firm Laboratory Partners Inc., also known as MedLab, received the blessing of a Delaware bankruptcy judge on Wednesday to sell its long-term care division to Amerathon LLC for a $5.5 million credit bid.

At a hearing in Wilmington, U.S. Bankruptcy Judge Peter J. Walsh approved the sale of the company's remaining operating unit to Amerathon, a joint venture that includes MedLab's senior secured lenders.

"I'll sign the order," Judge Walsh said, after overruling a creditor objection to a provision in the purchase agreement....
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