TallyGenicom $36.63 million asset sale approved; insolvency administrator appeals

By Caroline Salls

Pittsburgh, March 16 - TallyGenicom, LP received court approval of the $36.63 million sale of substantially all of its assets to Printronix Inc., according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

According to the filing, there were no competing bids submitted, so the company cancelled the auction.

TallyGenicom AG preliminary insolvency administrator Michael Pluta has appealed the sale approval.

TallyGenicom, a Chantilly, Va., provider of printing solutions, filed for bankruptcy on Jan. 29. Its Chapter 11 case number is 09-10266.

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