Bloomberg Law
December 3, 2018, 8:26 PM UTC

Toys ‘R’ Us Settlement Clears Way for Sale of Asia Business

Daniel Gill
Daniel Gill
Reporter

The sale of Toys “R” Us Inc.'s Asia unit appears likely to get confirmation after a Virginia bankruptcy court overseeing the toy seller’s liquidation approved a settlement with a Hong Kong company that actively tried to thwart the sale.

Fung Retailing Ltd. will withdraw its objections to the sale and cease its ongoing litigation in Hong Kong seeking to block a sale of the Asian venture owned in part by Fung. It will receive a payment of $8.25 million, according to the settlement approved Nov. 30 by Judge Keith L. Phillips of the U.S. Bankruptcy Court for the Eastern District ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.