Law360, New York (June 18, 2008, 12:00 AM ET) -- Bankrupt auto supplier Plastech Engineered Products Inc. has revealed that the stalking horse bidders for three units prevailed at an auction, with the bidder for the largest upping its price by over $20 million, and that another bidder stepped forward to buy a fourth unit.
An attorney for Plastech closed the $230 million combined sales for the debtor's interior, exteriors, automotive stamping and carpeting units at Monday's auction, according to a transcript filed Tuesday in the U.S. Bankruptcy Court for the Eastern District of Michigan....
Plastech's Stalking Horses Win Their Races
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