“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.

    • ricecake@sh.itjust.works
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      1 day ago

      No idea, and not entirely sure why it matters. If your goal is to sell an asset and maximize proceeds, it’s a known and unsurprising strategy, particularly since it gives higher returns when there are few bidders.

      • Aatube@kbin.melroy.orgOP
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        1 day ago

        I think it has quite a chance of mattering. There’s two choices here: the judge is incomptetent/compromised, or there’s a reason this makes sense within the bankruptcy context. I want to explore the latter first before I make any judgements.