Le Tote’s $12 Million Asset Sale to Saadia Closes After Snag

New York investment firm Saadia Group LLC has completed its $12 million purchase of bankrupt Lord & Taylor LLC and parent Le Tote Inc.'s e-commerce assets, overcoming a last-minute dispute that almost upended the deal.

Le Tote and Saadia resolved their issues and the deal closed at around 10 a.m. Monday, Le Tote’s attorney, David L. Eaton of Kirkland & Ellis, told Bloomberg Law.

The dispute arose after Saadia said it learned that some of the assets it bought were owned or controlled by other vendors.

Saadia alleged just two days before the sale closed that Le Tote had threatened ...