Bankrupt Edgenet Gets Nod For $8M Sale To Former Execs

Law360, Wilmington (June 10, 2014, 7:33 PM ET) -- A Delaware bankruptcy judge on Tuesday blessed the $8 million sale of data technology firm Edgenet Inc. to a group of its former principals, who prevailed in a Chapter 11 auction with a winning offer that improved upon the stalking horse bid by $2.5 million.

At a hearing in Wilmington, U.S. Bankruptcy Judge Brendan L. Shannon agreed to approve Edgenet's sale to EdgeAQ LLC, a vehicle formed by the three former employees, and said he would enter an order once a final version was submitted to...
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