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API Americas Gets Bankruptcy Court OK For $6 Million Sale

March 25, 2020, 9:34 PM

Bankrupt packaging manufacturer API Americas Inc. received court approval to sell its laminates business to Case Paper Co. for $6 million and lined up a $2.25 million sale of its foils production business.

Judge Christopher Sontchi approved API’s Chapter 11 sale during a hearing Wednesday at the U.S. Bankruptcy Court for the District of Delaware after the manufacturer’s attorneys said it likely wouldn’t be able to get a better offer due to market deterioration.

The company, which makes packaging for various consumer products, also discussed an agreement it filed Tuesday to sell its foils business located in Lawrence, Kansas, to...

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