Personal Communications Judge OKs Auction, Stalking Horse

Law360, New York (September 17, 2013, 4:25 PM EDT) -- A New York bankruptcy judge on Monday set an October auction date for the sale of Personal Communications Devices LLC’s assets, which will start with a stalking horse bid of $105.3 million from Quality One Wireless LLC.

In his order approving bidding procedures for the auction, U.S. Bankruptcy Judge Alan S. Trust overruled remaining objections to the sale, some of which came from creditors who argued that the proposed sale only benefits secured lenders and insiders.

If more than one qualified bid is offered, the auction...
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