"Business Maine: Southern" piece briefly reporting that the creditors of Envisi

Source

Mainebiz

Date

8-4-2003

Pages

7

Abstract

"Business Maine: Southern" piece briefly reporting that the creditors of EnvisioNet, the technical support provider that filed for Chapter 11 bankruptcy in June 2001, have sued California-based Alorica in U.S. Bankruptcy Court in Portland, alleging that Allorica's failure to buy EnvisioNet's assets after being selected to do so in bankruptcy court auction, led to a drop in EnvisioNet's value and a loss of money by the creditor's committee. A federal bankruptcy judge chose Alorica to buy EnvisioNet's assets for $11.8 on Aug. 20, 2001. Alorica had two days to complete the sale, but still had not signed the contract by Aug. 27. On Aug. 28,the judge named Microdyne Outsourcing Inc. of Torrance, California, as the new buyers, at a price of $1.2 million less than Alorica had agreed to pay.

Subjects

Actions and defenses, Allorica, EnvisioNet Computer Services Inc

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