PSL-NA To Change $100M Sale Plan Over Creditor Concerns

Law360, Wilmington (July 10, 2014, 8:07 PM EDT) -- Bankrupt pipe manufacturer PSL-North America LLC said in a court filing Thursday that it will alter both its $100 million stalking horse sale plan and its motion for final approval of debtor-in-possession financing to address concerns raised by one of its secured creditors.

In a reply motion before the Delaware bankruptcy court, PSL-NA, which provides pipe to the oil and gas industry, said it would change the bid procedures for the proposed sale of its assets to allow the debtor to consider alternative transaction structures from...
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.