Borders Wins OK To Auction Off Website, Trademarks

Law360, New York (August 10, 2011, 1:32 PM EDT) -- The estate of Borders Group Inc. won permission on Wednesday from a New York bankruptcy judge to auction off its website, trademarks and other intellectual property, having already handed its stores to liquidators.

U.S. Bankruptcy Judge Martin Glenn approved procedures for the intellectual property sale during a hearing in Manhattan, allowing for the company to select a stalking horse bidder and to solicit additional purchase proposals for an auction Sept. 14.

“The court believes that the bidding procedures are fair and reasonable and they're in the...
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