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SeraCare Requests Exit-Financing Auction Delay

Law360 (October 20, 2006, 12:00 AM EDT) -- SeraCare Life Sciences Inc. urged a federal bankruptcy judge to delay the exit-financing auction that would allow the winning bidder to fund the health care company’s exit from Chapter 11 bankruptcy protection.

SeraCare has requested that the auction be delayed an additional 10 days, moving the date back to Nov. 16 and making initial bids due on Nov. 10 rather than Oct. 27.

The company said that the due diligence process has not been completed, hence the need for the extension.

SeraCare’s shareholders want to fund...
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