ERP Iron Ore trustee sets bid procedures for sale of remaining assets

By Caroline Salls

Pittsburgh, Jan. 24 – ERP Iron Ore, LLC Chapter 7 trustee Nauni J. Manty requested court approval of the bid procedures for the proposed sale of its remaining assets, according to a motion filed Friday with the U.S. Bankruptcy Court for the District of Minnesota.

The assets to be sold include a plant located in Grand Rapids, Minn., along with personal property associated with plan and some surrounding real property.

The trustee said in the motion that the assets will be offered for sale as a single unit or in separate lots, depending on which will attract higher bids.

Bids are due by 12:59 a.m. on March 3.

An auction, or auctions, will be held on March 10, under Manty’s proposed sale timeline.

The trustee is requesting an April 8 sale hearing.

A hearing on approval of the bid procedures is scheduled for Feb. 13.

ERP is based in Grand Rapids, Minn. An involuntary case against it was converted to a voluntary case on July 17, 2018. The Chapter 7 case number is 18-50378.

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