iGPS seeks OK for name change to Pallet Co. LLC following asset sale

By Jim Witters

Wilmington, Del., Aug. 16 - iGPS Co. LLC is seeking approval to change the company's name to Pallet Co. LLC following the sale of substantially all of its assets, according to an Aug. 16 filing with the U.S. Bankruptcy Court for the District of Delaware.

Under the terms of the asset purchase agreement, the debtor must discontinue use of iGPS or any derivative of that name.

As previously reported, the debtors closed Aug. 2 on the $165 million asset sale to iGPS Logistics LLC, a joint venture formed by Balmoral Funds, One Equity Partners, some of their affiliates and Jeff and Robert Liebesman.

A hearing has been scheduled for 2 p.m. ET on Sept. 19.

iGPS, an Orlando-based operator and owner of a global pallet rental pool with embedded RFID tags, filed for bankruptcy on June 4 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 13-11459.

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