Voyager Holdings filed a Notice of Auction with the bankruptcy court announcing an Auction* of its assets (or the assets Voyager believes it is entitled to sell). The Auction will start on September 13 in New York and promises to be anything but simple or dull. Whatever occurs and whichever bidder(s) emerge(s) successful, expect a hotly contested Sale Hearing.
An interesting aspect of bankruptcy auctions is their flexibility compared to a regular auction. Voyager has been soliciting bids on anything and everything—up to and perhaps including a bid for the whole kit and kaboodle. Qualified bidders were invited to submit offers for 100% of Voyager’s equity, all of Voyager’s assets, or some unspecified subset of the assets.