Blockbuster sought Chapter 11 bankruptcy protection last September in federal bankruptcy court in New York (see "TUOL" post 9/23/10). Judge Burton Lifland accepted the public auction deal presented by lenders, including Monarch Alternative Capital LP. Judge Lifland also ruled that corporate marauder Carl Icahn may submit a bid for Blockbuster at the auction.
No date for the auction of the company founded in 1985 has been announced. "TUOL" wonders if there will be a penalty if the auction last more than 2 or 3 days.
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