Grubb & Ellis Auction Nixed After BGC Partners Is Sole Bidder

Law360, New York (March 21, 2012, 3:33 PM EDT) -- With only one competitor in sight, an auction for the assets of bankrupt commercial real estate services provider Grubb & Ellis Co. was canceled Tuesday, leaving stalking horse BGC Partners Inc. the only buyer standing.

The auction for the California company, scheduled to take place on Wednesday, was nixed after failing to lure any other interested parties as of the bidder due date on Tuesday afternoon, according to a notice filed in New York bankruptcy court. That leaves financial services firm BGC, which holds about $22...
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