Bankrupt Broker Penson Gets $10.5M For Tech Wing

Law360, Wilmington (March 26, 2013, 6:40 PM EDT) -- A Delaware bankruptcy judge on Tuesday signed off on Penson Worldwide Inc.'s $10.5 million sale of Nexa Technologies Inc. to a Canadian financial services cooperative, allowing the defunct broker dealer to shed its sole operating entity and continue toward a planned liquidation.

The sale of Nexa, which develops front-end trading platforms and operates a database of trading data, to the Federation des Caisses Desjardins du Quebec was the result of an extensive marketing process begun well before Penson's bankruptcy filing, debtors' counsel Ryan M. Bartley told...
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