Court grants Mobilicity sales process
Briefs | 11/13/2013 10:15 pm EST
An Ontario Superior Court judge granted Mobilicity's request for permission to enter a formal sales process to sell the company or its assets, court documents show.
In an application filed last week as part of the company's ongoing bankruptcy protection proceedings, Mobilicity (formally called Dave Wireless Inc.) asked for the court's permission to sell “substantially all” of its assets through a court-supervised sale.
Under that plan, potential bidders for the company's assets will be allowed to apply to place a bid by Dec. 2, with the formal bidding process scheduled to conclude on Dec. 9.
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