Grubb & Ellis Sale In Limbo After Court Blinks

Law360, New York (March 22, 2012, 8:21 PM EDT) -- Bankrupt commercial real estate services provider Grubb & Ellis Co.'s proposed sale to stalking horse and sole bidder BGC Partners Inc. is in limbo after a judge declined Thursday to rule at the close of a contentious sale hearing.

Following three hours of arguments and testimony laying out the proposed sale and parties' objections, U.S. Bankruptcy Judge Martin Glenn told the packed Manhattan courtroom he'd take the matter under submission.

Though major progress has been made in the case — late Wednesday, the debtor and BGC...
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