Sale of De Loren assets OK'd for Ohio companies

By Compiled From Wire Service Dispatches With Analysis From Monitor Correspondents Around The World; Edited By Anne Collier

November 18, 1982

Detroit

A federal bankruptcy court approved the sale of most of John De Lorean's car company assets in the United States to two Ohio companies, Consolidated International and Group Investors, for $1.5 million. Mr. De Lorean will obtain preferential treatment when funds from the company's sale are distributed to the 700 to 730 lenders. Judge George Woods turned down an offer from Mr. De Lorean's brother, Charles, to buy the company's assets.