Court Approves Fedders' Last Major Asset Sale

Law360, New York (May 27, 2008, 12:00 AM EDT) -- The judge overseeing Fedders Corp.'s Chapter 11 proceedings pushed the company closer to wrapping up its bankruptcy when he gave a green light to the debtors' plan to sell their indoor air quality assets for a cool $25 million.

U.S. Bankruptcy Judge Brendan L. Shannon signed off on an order last week authorizing the sale, and holding that the transaction, which marks the last major asset sale Fedders needed to consummate, was fair and reasonable.

The order followed a hearing on May 22. A limited objection...
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