Bankrupt Global Aviation Cleared For Auction

Law360, Wilmington (January 27, 2014, 8:08 PM EST) -- A Delaware bankruptcy judge on Monday gave Global Aviation Holdings Inc. the green light Monday to proceed with its sale plan, approving the charter air service provider's call for a March auction with a unit of private equity firm Cerberus Capital Management LP as a stalking-horse bidder.

U.S. Bankruptcy Judge Mary F. Walrath signed off on the company's unopposed slate of bid procedures, setting up secured lender Cerberus Business Finance LLC as the stalking horse for a March 19 auction. Global Aviation's sale will be effected...
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