Bankruptcy Law News

Borden Proposed Sale Threatened by Union Objections, Judge Says

June 23, 2020, 5:47 PM

Judge overseeing Borden Dairy’s bankruptcy urged the proposed buyer of the milk company to negotiate a deal with the Teamsters union or risk having the sale rejected.

  • “I’m not ready to rule but I’m saying Mr. Perillo is making some really good arguments and I‘m leaning his way,” U.S. Bankruptcy Judge Christopher Sontchi said in court Tuesday, referring to the lawyer for the union, which is seeking to block the sale unless their labor agreement is protected
  • Borden and the buyer, which is backed by affiliates of investment giant KKR, had asked Sontchi to approve the sale without requiring the...

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