The maker of Aerosoles flexible-sole footwear must allocate the $24.4 million asset-sale proceeds between two secured creditors after the intellectual property value underlying the creditors’ lien has been determined, a federal bankruptcy court ruled.
AeroGroup International, a manufacturer and retailer of women’s comfort footwear doing business as Aerosoles, filed for Chapter 11 protection Sept. 15, 2017. The company sold all of its assets March 6, 2018.
THL Corporate Finance Inc., the administrative agent to AeroGroup’s pre-petition term loan lender, and Polk 33 Lending LLC, the debtor-in-possession lender, asserted competing secured claims to the money and the parties couldn’t agree on ...
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