Judge OKs $11M Emivest Stalking Horse Deal

Law360, New York (February 23, 2011, 3:33 PM EST) -- After two faltered attempts to sell its assets, Emivest Aerospace Corp. gained bankruptcy court approval Wednesday to enter into an $11 million sale agreement with a stalking horse bidder that will serve as a floor bid in an upcoming auction.

Judge Mary F. Walrath signed off on the agreement with Utah-based MT LLC, along with procedures for the March 14 auction, at a hearing in the U.S. Bankruptcy Court for the District of Delaware.

MT’s bid for the business jet maker’s assets includes $7.6 million in...
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