American Apparel, Inc. (fka APPCQ)

[OlivePennys]

Judge to rule Monday on American Apparel bankruptcy exit plan


WILMINGTON, Del. (Reuters) - A U.S. judge will rule on Monday on a plan to bring teen retailer American Apparel out of bankruptcy under the control of hedge funds or give former chief executive Dov Charney a chance to finance a competing plan.

American Apparel Inc filed for bankruptcy in October and last month Charney and two investment funds presented a competing takeover plan that was rejected by the company's board.

U.S. Bankruptcy Judge Brendan Shannon in Wilmington, Delaware said at the end of two days of testimony he would rule Monday at 11 a.m.

http://reut.rs/1lAmPsH