Liberty Power cancels auction, names NRG winning bidder for assets

By Sarah Lizee

Olympia, Wash., Sept. 1 – Liberty Power Holdings LLC canceled an auction scheduled for Wednesday and named stalking horse bidder NRG Retail, LLC the winning bidder for substantially all of its assets, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Florida.

The purchase price under the stalking horse agreement is $36.39 million, as previously reported. The agreement includes a $1 million breakup fee and an up to $300,000 expense reimbursement.

A sale hearing is scheduled for Sept. 10.

Liberty Power is an electric retailer based in Fort Lauderdale, Fla. The company filed Chapter 11 bankruptcy on April 20 under Chapter 11 case number 21-13797.

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