Bankrupt Centrix Wins Sale Approval

Law360, New York (January 19, 2007, 12:00 AM EST) -- Approval was granted Thursday for auto finance lender Centrix to sell its business, paving the way for the company to emerge from bankruptcy.

The U.S. Bankruptcy Court in Denver granted the sale of most of the company’s assets after Centrix founder Robert Sutton dropped most of his objections.

The lending business will be sold for $30 million to an investment group established by Falcon Investment Advisors, one of the company’s senior lenders.

Judge Elizabeth Brown approved the auction last November, allowing Centrix to hold a sales...
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