Eos Airlines Files Motion to Auction
Published May 20th, 2008
Eos Airlines has filed a motion asking the U.S. Bankruptcy Court for the Southern District of New York to approve a process and schedule for the auction and sale of the company and its assets.
Through the auction and sale process, Eos hopes to sell either its business to a party interested in restarting Eos as a going concern or all of Eos’ most valuable assets to one or more purchasers. Eos has separately sought Court authority to sell all assets valued at less than $225,000 on an expedited basis.
Eos has asked the Court to approve bidding procedures and schedule an auction to approve a successful bid. If approved by the Court at a hearing scheduled for May 22, 2008, the deadline for submission of bids for any of the assets of Eos shall be May 30, 2008, with an auction to take place on June 9, 2008. The full motion, containing details of the procedures and the schedule leading up to the auction can be found at www.kccllc.net/eosairlines.
Court filings and other information can be found at www.eosairlines.com and at www.kccllc.net/eosairlines.
