Judge rules unused Borders gift cards to be worthless

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Judge rules unused Borders gift cards to be worthless

May 23 2013

Borders owes nothing to holders of roughly $210.5 million of gift cards that had not been used by the time the bookstore chain shut down, a Manhattan federal judge ruled on Wednesday.

U.S. District Judge Andrew Carter said it would be unfair to other creditors of the former Borders Group Inc. to let gift card holders pursue recoveries from the bankruptcy estate.

Source: Reuters

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