Bankrupt CDC Corp. Seeks $250M Sale To Stalking Horse

Law360, New York (February 7, 2012, 6:45 PM EST) -- Bankrupt software firm CDC Corp. asked a Georgia bankruptcy judge on Monday for permission to sell its 87 percent stake in CDC Software Inc. to stalking horse bidder Archipelago Holdings Inc. for $250 million.

The bankrupt company asked U.S. Bankruptcy Judge Paul W. Bonapfel to approve an agreement it reached with Archipelago on Feb. 1 to sell subsidiary CDC Software for $10.50 per share.

If the agreement is approved by the judge, it will also allow CDC Corp. to solicit higher bids from other potential purchasers...
To view the full article, register now.




Case Information

Case Title

CDC Corporation

Case Number



Georgia Northern

Nature of Suit

Date Filed

October 4, 2011

Law Firms


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.