USA: Cone Mills Bondholders Fail To Halt Ross Sale
The bond, subject to being posted by a bankruptcy court deadline of midnight on Monday, would have compensated the North Carolina-based company for any losses resulting from a delay in its sale.
"The bottom line is that they did not put up a bond," WL Ross chairman Wilbur Ross said on Tuesday.
"We're now getting organised to dose the transaction."
Ross added he was "very sceptical" that the committee would put up the money.
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