Adidas Settlement Paves Way For Closing Of Rockport Sale

Law360, Wilmington (July 30, 2018, 8:03 PM EDT) -- A settlement approved Monday by a Delaware bankruptcy judge among debtor The Rockport Co. LLC, its former owner Adidas AG and Reebok International Ltd. resolved a potential $54 million claim fight between the two parties and will allow Rockport's $150 million Chapter 11 asset sale to close as soon as Wednesday.

During a hearing in Wilmington, Rockport attorney Amanda R. Steele of Richards Layton & Finger PA told the court the parties had reached terms of a settlement that will see the debtor pay $8 million to Adidas in exchange for a broad swath of releases that will wipe away a...

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