By Brad Miller and Margarita Patria (August 2, 2017, 5:03 PM EDT) -- The benefits of buying and selling via an online marketplace include lower information and transaction costs, better prices, and more confidence in a fair deal. Auctions in bankruptcy proceedings are in the relatively early stages of moving online. While multiple sites offer "online auctions" for sales of a range of relatively small-value items, more complex auctions under the Bankruptcy Code still are often conducted in the traditional manner — live and in person in law offices and courtrooms. Recent examples include the Chapter 11 filings of Sports Authority and the Big Apple Circus. An online auction that is designed specifically to meet the needs of all stakeholders can be better than the traditional approach....
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