Law360, Wilmington (April 13, 2012, 7:05 PM ET) -- Bankrupt Cetero Research won court approval Friday in Delaware to auction off its assets, with secured lenders poised to take control of the beleaguered pharmaceutical testing company through an $80.3 million stalking horse bid.
At a court hearing, U.S. Bankruptcy Judge Kevin J. Carey signed off on bidding procedures for a May 15 auction. Bids for the Cary, N.C.-based company will be due May 11.
Prior to the hearing, Cetero resolved an objection from the official committee of unsecured creditors, according to Marc Carmel of Paul...
Cetero Gets Nod To Auction Assets In Ch. 11
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