September 28, 2018 / 9:33 PM / 7 months ago

Bankrupt Gibson and supplier in tune with $4.6 mln claims settlement

The judge overseeing the bankruptcy of Gibson Brands Inc has approved a deal in which the famed guitar maker will allow claims for just over $4.6 million to resolve a fight that threatened its estate with claims of more than $60 million.

Judge Christopher Sontchi of the U.S. Bankruptcy Court in Delaware in an order entered on Friday into Gibson’s Chapter 11 bankruptcy endorsed the agreement bringing the guitar maker’s long fight with components supplier Tronical GmbH to an end.

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