Suitable Technologies auction and sale hearing pushed back to August

By Caroline Salls

Pittsburgh, July 17 – Suitable Technologies, Inc.’s asset sale approval hearing has been postponed to Aug. 20 from July 23, according to an amended scheduling order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Bids are due by 5 p.m. ET on Aug. 7.

An auction will be held on Aug. 10, if necessary.

Qualifying bids must include a commitment to close the sale by no later than Aug. 28, unless the company and debtor-in-possession facility lender agrees to a later closing date.

Under bid procedures approved by the court in April, bids were previously due by 5 p.m. ET on July 13, with an auction scheduled for July 16.

Suitable Technologies is a Palo Alto, Calif.-based internet services and infrastructure company. The company filed bankruptcy on Feb. 26 under Chapter 11 case number 20-10432.

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