Bankrupt IPS Worldwide LLC received court approval to sell nearly all of its assets for $2.3 million, including its freight audit and payment solutions business.
Europe Management SPRL, a Belgian company, submitted the winning bid to buy the business on June 19. Judge Karen S. Jennemann of the U.S. Bankruptcy Court for the Middle District of Florida approved the transaction on June 25.
Europe Management will acquire the assets free and clear of all liens and claims against the company. It may assume some of IPS Worldwide’s contracts with vendors and customers.
Alex D. Moglia, the Chapter 11 trustee appointed ...
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