Mercantile Bancorp's $22M Stalking Horse Sale Earns OK

Law360, Wilmington (August 05, 2013, 11:04 PM ET) -- Mercantile Bancorp Inc. on Monday got the go ahead to proceed with plans to a conduct a Chapter 11 sale with a $22.3 million stalking horse, though the process will take a few weeks longer than it had hoped.

At a hearing in Wilmington, U.S. Bankruptcy Judge Kevin J. Carey agreed to approved the lion's share of bid procedures set out from by MBI and stalking horse United Community Bancorp Inc., though he balked slightly at a time table calling for an Aug. 28 sale hearing....
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers