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Westlaw News

Bankrupt Aerosoles notches $26 million sale of intellectual property

A bankruptcy judge on Wednesday approved the sale of Aerosoles’ intellectual property, including its e-commerce business, to hedge fund Alden Global Capital LLC in a deal worth nearly $26.2 million to the bankrupt footwear retail chain.

Alden had served as a so-called stalking horse for the sale, meaning its initial bid of $23 million put a floor on offers for the assets, which also include copyrights, patents, trademarks, trade secretes and software.

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