Ormet wins court OK to sell assets

Jun 20, 2014 | 05:08 PM | Daniel Fitzgerald

Tags  Ormet, CCP ORMT, auction, acquisition, bankruptcy, aluminum smelter, Daniel Fitzgerald

NEW YORK — The assets of Ormet Corp. could be heading for sale June 26 after a U.S. Bankruptcy Court approved bidding procedures proposed by the bankrupt aluminum producer earlier this month.

Hannibal, Ohio-based Ormet had filed a motion with the U.S. Bankruptcy Court in Delaware seeking approval for the bidding procedures, selecting CCP ORMT Acquisition LLC as the stalking-horse bidder for its assets, including the idled aluminum smelter in Hannibal....

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