Losing bidder appeals Gulf States sale

摘要

The group that lost in its bid to purchase and restart the idled assets of Gulf States Steel has asked a bankruptcy court judge to reconsider his decision to award the assets to the only other bidder an equipment salvage company. The Gulf States Reorganization Group, Gadsden, Ala, which claimed its bid was at least 50,000 dollars higher also wants federal Bankruptcy Judge James Sledge to stay the closing of the 6.3m dollars sale to winning bidder Casey Equipment Corp of Pittsburgh, which plans to dismantle the Gadsden mill, sell it piecemeal and use the proceeds to start an industrial park at the site.