A bankruptcy court last week approved a bidding process for the assets of the payment processor Cynergy Data LLC.
Cynergy, of New York, and two subsidiaries filed a Chapter 11 reorganization petition earlier this month.
In documents filed in June with the U.S. Bankruptcy Court for the District of Delaware, Cynergy listed assets of $9.3 million and debts of $9.1 million.
This month, Cynergy said it had solicited a first bid from ComVest Group, a West Palm Beach, Fla., private-equity company.
The court will accept other bids until Oct. 2, and an auction of the assets is scheduled for Oct. 5 if there are other bidders. The court expects to approve the sale Oct. 7. If there are no other bids, the sale to ComVest will proceed, Cynergy said.
