A bankruptcy auction is when a company that has gone bankrupt sells off its assets or properties to generate money and repay its debts. Full definition
Representation of purchasers and potential purchasers in bankruptcy auctions and sales, including negotiation of stalking horse bid protections and litigation involving challenges to the sale. (drinkerbiddle.com)
The court - ordered bankruptcy auction of Gawker Media approached its final conclusion on Thursday, with most of company's assets set to be acquired by Univision for $ 135 million. (fortune.com)
The Harrison, N.Y. - based company had the winning bid of $ 53.5 million in cash at a recent bankruptcy auction for the Clare. (nreionline.com)