USA: Puma Files Objection On Asset Sale To Reebok
Puma North America Inc has raised objections to the proposed $13.8m asset sale of Indianapolis based LogoAthletic Inc to Reebok International Inc.
A report in the Dow Jones revealed that Puma had filed an official objection to the asset sale to Reebok with the US Bankruptcy Court.
According to a briefing from the case received by the paper, LogoAthletic sells one line of Puma branded apparel and Puma claim that the bankruptcy motion "does not provide any information regarding what portion of the inventory to be sold bears the Puma trademarks."
Under the terms of the sale Reebok would take on the line of Puma branded goods but would not come under the restrictions placed by Puma on LogoAthletic governing where the goods may be sold and where competing goods may be sold.
The hearing for the sale motion has been scheduled for February 21, 2001.
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