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Judge approves settlement in RadioShack gift card dispute
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WILMINGTON, Del. (AP) — Electronics retailer RadioShack on Thursday won court approval of a settlement involving priority treatment of certain gift-card holders in the company’s bankruptcy and has agreed to sweeten the deal for other cardholders. Under the settlement approved Thursday by a Delaware bankruptcy judge, holders of roughly a third of the $46 million in outstanding gift cards will receive priority status and have claims paid in full. But in a significant development reached shortly before the hearing, General Wireless, an affiliate of hedge fund Standard General that acquired the RadioShack trademark and more than 1,740 of the Fort Worth, Texas-based electronics retailer’s stores after its bankruptcy filing, has agreed to honor all RadioShack gift cards for 50 percent of merchandise purchases.