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Woodworking Industry News

Bestar and U.S. subsidiaries get temporary U.S. bankruptcy protection

WILMINGTON, Del. — A Delaware bankruptcy judge has granted provisional protection to the U.S. assets of Bestar and other sister companies facing liquidation. The shield prevents creditors from seizing the company's U.S.-based inventory or facilities while it navigates insolvency proceedings in Canada and seeks formal U.S. recognition of its bankruptcy, according to a report from Law360.