Mercantile Bancorp's $22M Stalking Horse Sale Earns OK

Law360, Wilmington (August 5, 2013, 11:04 PM EDT) -- Mercantile Bancorp Inc. on Monday got the go ahead to proceed with plans to a conduct a Chapter 11 sale with a $22.3 million stalking horse, though the process will take a few weeks longer than it had hoped.

At a hearing in Wilmington, U.S. Bankruptcy Judge Kevin J. Carey agreed to approved the lion's share of bid procedures set out from by MBI and stalking horse United Community Bancorp Inc., though he balked slightly at a time table calling for an Aug. 28 sale hearing....
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