The News Review:
- Gottschalks Completes Bankruptcy Auction
- Daguerreotype of New York in 1840s Sold for $62500
- Weekly Treasury auction brings mixed results
- Trop and Icahn reach $200M minimum bid
Gottschalks Completes Bankruptcy Auction
FXBusiness
PK) today announced that after completing the Court-supervised auction for its business the Company in consultation with the agent for its senior secured lenders and the unsecured creditors’ committee has agreed to the proposed liquidation of certain of the Company’s assets by a joint venture comprised of SB Capital Group LLC Tiger Capital Group LLC Great American Group LLC and Hudson Capital Partners LLC. As proposed the joint venture would be appointed by the Company to conduct the sale of merchandise located at the Company’s retail stores and distribution center and to dispose of certain of the Company’s furnishings trade fixtures and equipment. The proposed liquidation remains subject to the approval of the Bankruptcy Court for the District of Delaware which is scheduled to consider the proposed liquidation on Wednesday April 1 2009. If approved the liquidation may begin as early as Thursday April 2 2009 and is expected to conclude on or before July 15 2009. Jim Famalette Chairman and Chief Executive fficer of Gottschalks stated “Despite all our efforts at earnest negotiations we were unable to reach an agreement with our creditors lenders and bidders to structure a going concern bid by the Court-imposed deadline.
Daguerreotype of New York in 1840s Sold for $62500
New York Times
LEEPublished: March 30 2009 A photo believed to be one of the oldest ever taken in New York City. The pre-auction sales estimate was $50000 to $70000.
Weekly Treasury auction brings mixed results
Forbes
The Treasury Department auctioned $31 billion in three-month bills at a discount rate of 0. 195 percent down from 0. 225 percent last week. Another $29 billion in six-month bills was auctioned at a discount rate of 0.
Trop and Icahn reach $200M minimum bid
Philadelphia Inquirer
place_ad_here(“half”); Posted on Tue Mar. 31 2009 Trop and Icahn reach $200M minimum bid By Suzette ParmleyINQUIRER STAFF WRITER The trustee of the Tropicana Casino in Atlantic City reached an agreement late last night with a group of secured lenders including developer Carl Icahn to set a $200 million minimum bid in a bankruptcy auction. Icahn’s group will act as the so-called stalking horse in a bankruptcy auction for the troubled casino whose owner was stripped of its license in December 2007. The agreement was reached at 11:35 last night. At a hearing last month the New Jersey Casino Control Commission said the two groups had to reach an agreement before the auction process could proceed. of Baltimore expressed interest in the casino last fall but has made no formal offer.
Related from Managementmonster: Carl Icahn unloads on Lions Gate management