[Am-info] Court clears Kmart's Bluelight.com sale

[Fred A. Miller]

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Court clears Kmart's Bluelight.com sale

"A U.S. bankruptcy court on Wednesday approved discount retailer Kmart's deal
to sell its Bluelight.com Internet access unit, after Kmart resolved issues
raised by Microsoft and three states on software licenses and taxation. U.S.
Bankruptcy Court Judge Susan Pierson Sonderby overruled an objection from
Kmart's lenders, led by J.P. Morgan Chase & Co., who had asked that proceeds
from the $8.4 million sale be set aside instead of going directly to Kmart.

Software giant Microsoft and others filed objections to the proposed sale of
Bluelight.com's Internet access business to United Online last week, citing
software licensing and tax issues among their concerns. Some of Kmart's
lenders and the states of Illinois, Washington and California also objected to
the deal, which was announced in September." --Reuters

<http://zdnet.com.com/2110-1105-964032.html>

- --
Fred A. Miller
Systems Administrator
Cornell Univ. Press Services
fm@cupserv.org, www.cupserv.org
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