Pitney Bowes Announces Agreement in Principle with Unsecured Creditors’ Committee in DRF Logistics Bankruptcy Case to Resolve Outstanding Disputes
Pitney Bowes Inc. (PBI)
Last pitney bowes inc. earnings: 2/4 07:00 am
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Source: Business Wire
Resolution Will Pave the Way for Completion of GEC Exit by End of 2024 STAMFORD, Conn.--(BUSINESS WIRE)--Pitney Bowes Inc. (NYSE: PBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it has reached an agreement in principle (the “Agreement in Principle”) with DRF Logistics LLC (“DRF”) (f/k/a the Global Ecommerce segment) to resolve ongoing disputes with the official committee of unsecured creditors (the “Committee”). The Committee is tasked with representing the interests of all creditors asserting unsecured claims against DRF and its affiliated debtor.Lance Rosenzweig, Pitney Bowes’ Chief Executive Officer, commented:“This Agreement in Principle represents an important milestone in the DRF wind-down process and resolves the Committee’s disputes on fair and reasonable terms. We believe that this deal is favorable to the Company and, crit
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