Ciber Nearly Doubles Asset Price To $93M After Auction

Law360, Wilmington (May 19, 2017, 4:19 PM EDT) -- Bankrupt information technology services firm Ciber Inc. received court approval Friday in Delaware for a $93 million sale of its assets following a successful Chapter 11 auction held earlier this week.

During a hearing in Wilmington, Ciber attorney Todd M. Goren told the court the auction resulted in a sale price high enough to clear all of the company’s secured debt by a wide margin and will leave money to provide significant recoveries to unsecured creditors.

“We had an auction and things went well,” Goren said....
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