Orius granted court approval of $8.9 million asset sale

By Caroline Salls

Pittsburgh, Feb. 17 - Orius Corp. obtained court approval of the $8.9 million sale of some of its assets to Schatz Enterprises, Inc. and a joint venture made up of Hilco Industries LLC and Rabin Worldwide, according to a Thursday filing with the U.S. Bankruptcy Court for the Northern District of Illinois.

The stalking horse bidder was Dycom Industries, Inc., with an $8 million bid.

Under the purchase agreement, the sale includes some assets and assumption of a number of Orius' contracts.

Orius, a West Palm Beach, Fla., provider of construction, deployment and maintenance services to the telecommunications, broadband, gas and electric utilities and government industries, filed for bankruptcy on Dec. 12. Its Chapter 11 case number is 05-63876.

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