Preliminary Settlement for AMS and B&T

By Carmen 

PW Daily’s Jim Milliot reported yesterday that AMS and Baker & Taylor have reached a preliminary agreement to settle charges made by AMS that B&T wrongfully withheld $6.2 million when it made its final payment for the AMS assets it acquired. According to court documents, once the settlement receives the approval of the bankruptcy court judge, B&T will pay AMS $1.8 million. That figure consists of a payment of $6.05 million by B&T, minus $4.25 million AMS agreed to pay B&T under the transition services agreement between the two companies.