Helios and Matheson Analytics trustee wins approval to auction assets

By Caroline Salls

Pittsburgh, Feb. 27 – Helios and Matheson Analytics, Inc.’s Chapter 7 trustee received court approval of the bid procedures for the proposed sale of the company’s assets, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

Chapter 7 trustee Alan Nisselson said in his motion that he has selected Cassel Salpeter & Co., LLC as his financial adviser for the Helios case.

The trustee said Cassel Salpeter has identified several of the debtors’ assets for immediate sale, including their Moviefone service, the Zone Technologies, Inc. mapping and spatial analysis company, Tact.com and the debtors’ consulting business.

One or more auctions will be held no sooner than 21 days after the date of approval of the bid procedures motion.

The trustee said the assets will be sold separately rather than in a single lot.

The sale hearing is scheduled for March 19.

The information technology services company is based in New York. The company filed bankruptcy on Jan. 28 under Chapter 7 case number 20-10242.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.