Global Home Products' WearEver debtor sale stay request denied

By Caroline Salls

Pittsburgh, Aug. 15 - A request to stay Global Home Products, LLC's approved $35.75 million sale of substantially all of the operating assets of its WearEver debtor to SEB SA and Groupe SEB USA pending appeal was denied Tuesday by the U.S. Bankruptcy Court for the District of Delaware.

Regal Ware, Inc. requested the stay in connection with the assignment of its trademark license after its sale objection was overruled.

Global Home Products objected to the stay request on Monday, saying the company would lose its rights to $2 million of the sale proceeds if the license assignment was stayed.

Also, the company said it is unlikely Regal Ware could prevent assumption of the license agreement.

In its ruling, the court said Regal Ware's trademark license is freely assignable.

According to the order, SEB has exercised its right to proclaim that the sale will close immediately if the stay is not granted, and, if it does close, the appeal may be rendered moot.

Global Home Products, through its Anchor Hocking, The Burnes Group and WearEver businesses, is a Westerville, Ohio-based designer, marketer and manufacturer of branded consumer and specialty products to retail and hospitality customers and original equipment manufacturers.

The company filed for bankruptcy on April 10. Its Chapter 11 case number is 06-10430.

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