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A U.S. bankruptcy court last week approved a bidding process for the assets of Cynergy Data LLC, the New York-based payment processor says. Cynergy Data and two subsidiaries filed a chapter 11 reorganizing petition earlier this month (CardLine, 9/1). Court documents filed with the U.S. Bankruptcy Court for the District of Delaware show Cynergy Data listed assets of $9.3 million and debts of $9.1 million on June 30. Earlier this month, Cynergy Data said it sought West Palm Beach, Fla.-based The ComVest Group as its first bidder. The court will accept other bids until Oct. 2. An auction will happen Oct. 5 if there are other bidders for Cynergy Data, with a court hearing to approve the sale on Oct. 7. The sale to The ComVest Group will proceed, pending court approval, if no other bids are received, Cynergy Data says.
