By: Tom Corrigan
A bankruptcy judge on Wednesday said he would approve a series of motions that will put Baxano Surgical Inc. on track to sell its medical-device business by Jan. 27.
During a hearing at the U.S. Bankruptcy Court in Wilmington, Del., Judge Christopher Sontchi said he would sign off on a motion that will allow Baxano to choose a lead bidder and to sell its primary assets at a court-supervised auction.
“I hope that we can generate some interest in the assets and help out these creditors,” the judge said.
According to a timeline established at the hearing, Baxano will name a lead bidder by Dec. 22, hold an auction, if necessary, on Jan. 22 and present the results of the auction for Judge Sontchi’s approval on Jan. 27.