Wayzata Appealing Foamex Auction Sale

New York, NY, June 11, 2009--After being passed over in last month’s reopened auction for Foamex International Inc., Wayzata Capital Investment Partners LLC is appealing the bankruptcy court’s decision to go with MatlinPatterson's $155 million credit offer instead of a cash bid Wayzata says provides a higher return for creditors.

Wayzata won the first bid with a $141.5 million offer. However, lenders who are owed $325 million challenged the decision.

On Monday, Wayzata notified Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware that it was appealing the May 27 order authorizing the sale.