IPS Worldwide’s Creditors Settle Bankruptcy Claims

Sixteen creditors, including Stanley Black & Decker and TE Connectivity, have completed a settlement resolving claims against bankrupt IPS Worldwide LLC.

Stanley Black & Decker agreed to accept $1.3 million of its $2.61 million claim, and TE Connectivity agreed to accept $1.04 million of its $2.61 million claim against the bankrupt freight audit and payment solutions company. Other settling creditors include Arconic Inc., Gibraltar Industries Inc., Fluidigm Corp., Synchrony Financial, Atkore International, and Bio-Rad Laboratories.

Judge Karen S. Jennemann of the U.S. Bankruptcy Court for the Middle District of Florida signed the order approving the settlement July 16.

Creditors will ...