ECOtality: three bidders collectively bid $4.335 million in asset auction

By Lisa Kerner

Charlotte, N.C., Oct. 9 - Electric Transportation Engineering Corp., which does business as ECOtality North America, successfully held an auction for its assets on Oct. 8, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Arizona.

The highest and best bids were submitted by Blink Acquisition LLC, Access Control Group, LLC and Intertek Testing Services NA, Inc. for a total purchase price of $4.335 million, with each party agreeing to purchase separate assets of the debtors' estates and with certain assets excluded from the proposed sales and retained by the debtors' estates, the filing stated.

The sale hearing was scheduled to be at 3:30 p.m. ET on Oct. 9.

As previously reported, the company had selected Tellus Power, Inc. as the stalking horse bidder in connection with the proposed sale of its assets. Tellus' offer included $3 million in cash, payment and satisfaction of all cure costs and the assumption of liabilities.

ECOtality, a renewable energy company based in San Francisco, filed bankruptcy on Sept. 16. The Chapter 11 case number is 13-16126.

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