November 12, 2019 / 1:08 PM / a month ago

IN BRIEF: Destination Maternity creditors object to sale proceeds proposal

The committee for unsecured creditors of Destination Maternity Corp on Monday objected to terms in the maternity apparel retailer’s bidding procedures to set aside proceeds from a sale to pay lenders before the company’s bankruptcy gets resolved.

Lawyers for the committee at Cole Schotz and Cooley in a filing in U.S. Bankruptcy Court in Delaware said the terms do not belong in the procedures, especially with the outcome of a sale uncertain.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/34M5iVI

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