Phoenix Drops Ch. 11 Auction For $50M Stalking Horse

By Matt Chiappardi (September 18, 2014, 2:02 PM EDT) -- Card transaction processor Phoenix Payment Systems Inc. cancelled its Thursday bankruptcy auction, saying it didn't get any qualified bids and would pursue North American Bancard LLC's $50 million stalking horse offer for the company, which was said to have attracted significant prepetition interest....

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