Nirvanix Gets Green Light For Twin Ch. 11 Sales

Law360, Wilmington (October 23, 2013, 8:55 PM EDT) -- A Delaware bankruptcy judge on Wednesday approved bidding procedures for Nirvanix Inc. that will divvy up the cloud computing company's assets into two parcels in anticipation of a Chapter 11 auction next month.

San Diego-based Nirvanix sought court protection Oct. 1 after failing to find a buyer for the entire company and is now pursuing separates sales of its intellectual property and other assets, attorney Keith A. McDaniels told the court.

The company has a stalking horse bidder in place for the first lot, Nirvanix's IP,...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Nirvanix, Inc.


Case Number

1:13-bk-12595

Court

Delaware

Nature of Suit

Date Filed

October 1, 2013

Law Firms

Companies

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.