Bankrupt OCZ Tech Gets Nod For Jan. Auction

Law360, Wilmington (December 19, 2013, 7:31 PM EST) -- A Delaware bankruptcy judge on Thursday approved bidding procedures for computer drive maker OCZ Technology Group Inc., setting the stage for a Section 363 sale next month, with Toshiba Corp. in place as a $35 million stalking horse.

U.S. Bankruptcy Judge Peter J. Walsh agreed to sign off on the proposed auction plan, which OCZ amended prior to the hearing in response to concerns that the original terms would scare off competing bidders.

The revised procedures resolve objections from the U.S. trustee and the recently formed...
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