Allied's Assets Sold For $135M After Auction Was Reopened To Consider Better Bid

Allied's Assets Sold For $135M After Auction Was Reopened To Consider Better Bid

WILMINGTON, Del. - The federal bankruptcy judge presiding over the Chapter 11 proceeding of Allied Systems Holdings Inc. on Sept. 17 approved a $135 million sale of the company's assets to a rival company after the Official Committee of Unsecured Creditors and other parties moved to reopen the asset auction in light of a better bid (In Re: Allied Systems Holdings Inc., No. 12-11564, Chapter 11, D. Del. Bkcy.).

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