Johnson Controls: Fee Related To A123 Systems Sale Is Being Wrongly Withheld

WILMINGTON, Del. - Johnson Controls Inc. on Jan. 14 filed a brief in the U.S. Bankruptcy Court for the District of Delaware contending that in the Chapter 11 bankruptcy of alternative energy company A123 Systems Inc., the Official Committee of Unsecured Creditors (committee) wrongly seeks to hold in escrow the break-up fee related to the proposed sale of A123 Systems to Wangxiang Group Corp. Johnson Controls had hoped to purchase A123 Systems' assets (In Re: A123 Systems Inc., No. 12-12859, Chapter 11, D. Del. Bkcy.).Full story on lexis.com