Climate startup Aspiration Partners Inc. agreed to modify protections for its lead bidder in an asset sale following objections from the Justice Department’s bankruptcy monitor and a committee representing junior creditors in the company’s bankruptcy.
The climate-finance firm, which filed for Chapter 11 in March to sell its assets and pay creditors, said during a Wednesday hearing in the US Bankruptcy Court for the District of Delaware that it expects to complete the sale process by June 6. Inherent Aspiration LLC, an existing lender, has made a $20 million credit bid to take over the company’s assets.
The company, to ...
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