American Apparel Clashes With Creditors Over Auction Plan

Law360, Wilmington (December 1, 2016, 8:39 PM EST) -- American Apparel clashed with its unsecured creditors committee Thursday over the struggling clothier’s intellectual property auction plans, with the committee arguing it has a better way that could save some of the company’s operations and the debtor claiming the alternate path is too expensive to be successful.

In papers filed with the Delaware bankruptcy court, the official committee of unsecured creditors argued that American Apparel’s plans for Gildan Activewear Inc. to put in a $66 million stalking horse bid for the IP assets, which comes with...
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