July 02, 2014
A Delaware bankruptcy judge agreed Wednesday to push back a hearing on a challenge to estimated tax claims brought by the private equity-backed purchaser of bankrupt iGPS Co. LLC, giving New York state's taxation agency time to complete an audit and hammer out a potential settlement with iGPS.
May 29, 2014
New York Attorney General Eric T. Schneiderman and the state's taxation agency on Wednesday slammed an objection by the private equity-backed purchaser of bankrupt iGPS Co. LLC to an estimated tax claim, saying the company's foot-dragging during an audit necessitated the assessment.
July 27, 2013
Bankrupt iGPS Co.'s $39 million sale cleared the final hurdle Friday after its prospective purchaser and the parties that handle its plastic pallets defused a dispute that threatened to trip up a deal that had seemingly surmounted its biggest obstacle in winning judicial approval.
July 23, 2013
Plastic pallet leaser iGPS Co. got the green light Tuesday for its $39 million sale to a consortium of private equity firms and other investors as a Delaware bankruptcy judge overruled objections that the deal left hundreds of millions of dollars on the table.
July 12, 2013
The U.S. Trustee's Office and the founder and former CEO of bankrupt plastic pallet maker iGPS Co. on Friday blasted the company's sale plan, arguing that the $36 million auction floor is too low for a debtor they say could have more than $500 million in assets.
July 01, 2013
A Delaware bankruptcy judge gave his nod Monday to plastic-pallet maker iGPS Co. LLC's plan to auction itself off, but said his final approval of the actual sale was far from a sure thing unless the floor price set by a joint venture that includes two private equity firms goes up "considerably."
June 28, 2013
Criticism of plastic pallet maker iGPS Co. LLC's bankruptcy strategy is mounting as the creditors' committee objected Friday to the company's bid for $12 million in post-petition financing, arguing that the loan's budget is too low to get the company through the Chapter 11 process.
June 25, 2013
The U.S. Trustee's Office on Monday slammed what it called an "overly aggressive" bankruptcy sale of plastic pallet company iGPS Co. LLC, which recently collapsed under the weight of a $250 million credit agreement, to a private equity-led group.
June 07, 2013
Plastic pallet company iGPS Co. LLC won approval of a crucial $12 million loan Friday, allowing it to fund a quick sale to a private equity-led group that was threatened by several disputes a day earlier in Delaware bankruptcy court.
June 06, 2013
Plastic pallet company iGPS Co. LLC hit a roadblock right out of the starting gate Thursday when a Delaware bankruptcy judge did not sign a crucial request for a $12 million post-petition loan that would help fund a quick sale to a private equity-led group.