NEW YORK - The federal bankruptcy judge in New York presiding over the Chapter 11 proceeding of Old HB Inc., formerly known as Hostess Brands Inc., on July 19 granted the company approval to proceed with an auction of its remaining assets in which the company will have the right to determine that no bid is qualified if it is for less than $40 million (In Re: Old HB Inc. f/k/a Hostess Brands Inc., No. 12-22052, Chapter 11, S.D. N.Y. Bkcy.).