Tubing maker lands 11 bids, auction postponed

Oct 15, 2012 | 09:59 AM | Michael Cowden

Tags  Indiana Steel & Tube, bankruptcy auction, Indiana Bank & Trust, unsecured creditors, Jeffrey Graham, steel, tube, Michael Cowden

CHICAGO — Bankrupt Indiana Steel & Tube Inc. received 11 bids for its assets before an Oct. 10 deadline, and a bankruptcy judge has agreed to push back the originally scheduled auction date, according to court documents dated Friday.

Due to the number of bids, the Brownstown, Ind.-based company wanted to postpone the auction to Oct. 26 from Oct. 17, Jeffrey Graham, an attorney for Taft Stettinius & Hollister LLP, which is representing Indiana Steel & Tube, wrote in a motion filed in an Indiana bankruptcy court.....

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