Cadence Innovation $1.7 million industrial building sale approved

By Caroline Salls

Pittsburgh, July 15 - Cadence Innovation LLC received court approval of the $1.7 million sale of one of its industrial buildings in Fraser, Mich., to FIC (MI) LLC, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

Cadence also obtained court approval to pay a broker commission of 2% of the purchase price to Capitani, which it said acted as a real estate broker.

FIS (MI) paid a $15,000 deposit.

Cadence, a Troy, Mich.-based auto parts supplier, filed for bankruptcy on Aug. 26, 2008. Its Chapter 11 case number is 08-11973.

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