Judge Peter McKittrick says the sale to Lineage Logistics, a Michigan-based cold storage company, was in the best interest of NORPAC. Currently the lender that has financed NORPAC’s bankruptcy – has liens against the company for more than $382 million.
The closing will be contingent on the cancellation of a collective bargaining agreement between NORPAC and the International Brotherhood of Teamsters union.
The deal would include NORPAC’s properties in Brooks, Salem and Stayton.
Another hearing will happen on Jan. 24th in Portland.
NORPAC originally filed for Chapter 11 bankruptcy back in August of last year.