October 1, 2009
Bender bankruptcy auction in works
Most of Bender Shipbuilding & Repair Co.'s Mobile operations will have a new owner by Dec. 15, reports the Mobile, Alabama, Press-Register.
The shipyard, which is in Chapter 11 bankruptcy, has hired New Orleans-based Global Hunter Securities LLP to handle the sale of about 80 percent of its property along the Mobile riverfront in a bankruptcy auction procedure under which Dallas private-equity firm SunTx Capital Partners will be announced as the initial bidder, or "stalking horse."
The Press-Register says that the for-sale property includes six repair/construction yards, three steel floating dry docks, and other equipment on 26 acres.
Bender's Mexican shipyard and a local steel processing center will be sold in separate auctions, according to the documents.
The newspaper quotes Tom Bender as saying that SunTx is "in it to get it and have an ongoing business."
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