Bankruptcy 102 PGW client publishers and those who love them remain understandably confused by the flurry of letters, motions and contracts with respect to offers from Perseus and NBN. In a letter announcing the NBN offer, PGW told clients they could sign both the Perseus and NBN agreements: “As the Bankruptcy Court has not yet approved any deal, you are free to enter into an agreement with NBN, even if you have done so with the other potential purchaser. The intent of the process is that the bankruptcy court will approve a transaction and the agreements with the ‘winning’ purchaser […]