Attorneys Respond to Expedited Sale of Endicott Interconnect
7/24/2013 (Updated 7:05:01 PM)One day after some creditors objected to an expedited sale of Endicott Interconnect's assest for $250,000, attorneys for the company responded.
A filing Wednesday in US Bankruptcy Court in the Northern District of New York by the Syracuse firm handling EI's case argues a prompt sale of the assets is the only way to maximize the going concern value of those assests and selling them piecemeal would have limited marketability.
The company has requested selling it's assets for $250,000 to a company owned by James Matthews, who is a minority shareholder in EI.
Anyone wishing to make another bid must do so by August 15. An auction would then be held on the 19th.
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