Facing the possibility that Charlesbank would withdraw its $150 million bid for its assets, Rockport agreed to pay Adidas $8 million to settle a $54 million claim the Big a asserted against its bankrupt estate. Assuming the DE bankruptcy court approves the deal, the sale is now scheduled to close Aug. 1. Adidas gave a full release on its claims related to the transfer of assets in Rockport’s international operations, but Reebok retained certain claims as an unsecured general creditor. Adidas also agreed to transfer a license for Adiprene with the deal.

The dispute dates back to a two-step transfer process ... Log in to view full article.