Jilted Stalking Horse Wants Dallas Bank Auction Reopened

Law360, Wilmington (December 11, 2013, 8:53 PM EST) -- The stalking horse bidder in the bankruptcy auction for holding company North Texas Bancshares Inc.'s interests in Dallas-based Park Cities Bank on Wednesday blasted the debtors' selection of Olney Bancshares of Texas Inc.'s $10.7 million bid as the winner over its offer and asked that the bidding be reopened.

In an objection before the Delaware bankruptcy court, Park Cities Financial Group Inc. — a special purpose entity created for the transaction — argued that not only was its $11.8 million bid higher and better that Olney's...
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