September 19, 2018 / 10:13 PM / a month ago

Claims seeking $60 mln from Gibson valued at $4 for now

Bankrupt guitarmaker Gibson Brands Inc has agreed to temporarily value more than $60 million in claims made against it by a German company at $4 while the two companies prepare for a showdown in court in November over the claims.

Gibson and Tronical GmbH have stipulated to value the Hamburg-based maker of automatic tuning devices’ four claims at $1 each for the time being, according to a filing on Tuesday in U.S. Bankruptcy Court in Delaware.

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