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The Rockport Company – Court Approves $8 million Settlement with Adidas; Satisfies $54 Million Claim

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July 30, 2018 – The U.S. Bankruptcy Court has approved The Rockport Company’s settlement with adidas AG (“Adidas”) and certain creditors [Docket No. 425]. As previously reported [Docket No. 402], “The material terms of the Settlement Agreement are as follows: At the closing of the Sale (the ‘Closing’), the Debtors will pay or cause to be paid a sum of $8,000,000 to Adidas (the ‘Settlement Payment’) from the proceeds of the Sale….The Settlement Agreement satisfies approximately $54,000,000 in asserted claims against the Rockport Parties and allows the Sale to close.”

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