Marketwatch…
SAN DIEGO, CALIFORNIA–(Marketwire – March 8, 2011) – ISE Limited (TSX:ISE) announced today that substantially all of the assets of its principal operating subsidiary, ISE Corporation (a California corporation), were recently sold to a group of purchasers unaffiliated with and unrelated to ISE or any of its directors, officers or stockholders, following a public auction and competitive bidding process overseen by the bankruptcy court presiding over ISE Corporation’s previously-disclosed bankruptcy case. The aggregate gross proceeds received by ISE Corporation pursuant to the winning auction bid were US$3,721,000. The bankruptcy court has approved the sale. Proceeds of the sale will be distributed pursuant to the priority scheme of the bankruptcy laws, subject to any further orders of the bankruptcy court. Generally, proceeds are applied first against bankruptcy administrative and priority expenses and the
Continued here:
ISE Assets Sold in Court-Approved Bankruptcy Sale
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