Metal Partners cancels auction, seeks OK of stalking horse agreement

By Sarah Lizee

Olympia, Wash., Oct. 1 – Metal Partners Rebar, LLC canceled an Oct. 2 auction for its substantially all of its assets and is seeking approval of an amended stalking horse agreement, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the District of Nevada.

The debtor said that it did not receive any qualified bids by the extended deadline on Wednesday, other than the amended stalking horse agreement.

As previously reported, the company had entered into a stalking horse bid agreement with JRC OpCo LLC, an entity controlled by majority owner and manager Jose D, Carrero.

A sale hearing is set for Oct. 5.

Metal Partners is a fabricator of reinforcing bars and other steel products. The company filed Chapter 11 bankruptcy on June 16 under case number 20-12878.

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