Vertellus Specialties Inc., a global manufacturer of fine and specialty chemicals, announced that a bankruptcy court has approved the sale of substantially all of Vertellus' assets to the company's existing term loan lenders, the ABL Advisor reported on Friday. The Court's decision follows the successful resolution of all remaining objections raised by the company's creditors, environmental regulators and other business partners to allow for a consensual asset sale. The transaction is expected to be completed by the end of September.
