Borden's Ch. 11 Sale Gets OK After Deal Struck To Honor CBA

By Jeannie O'Sullivan (June 26, 2020, 8:00 PM EDT) -- A Delaware bankruptcy judge on Friday signed off on Borden Dairy Co.'s Chapter 11 sale after the buyers agreed to honor the collective bargaining agreements between the debtor and its workers' unions, a point of contention that delayed the court's blessing.

U.S. Bankruptcy Judge Christopher S. Sontchi on June 23 stopped short of approving the sale of assets — worth more than $300 million — to New Dairy Opco LLC and KKR & Co. because of the unsettled objections filed by five Teamsters unions and the United Steelworkers. However, a revised sale proposal filed Friday indicated the objections were resolved, and...

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