GREY:NEVDQ - Post by User
Post by
rickwayne1982on Aug 27, 2024 4:01pm
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Post# 36198283
Clarifying collusion and joint bids... Docket 434
Clarifying collusion and joint bids... Docket 434@ Patchh, Bidders can form joint bids by working with other bidders, with debtors written consent. Simply to clarify that this is not collusion…It's called joint bid and with the consent of debtors... BHP and Lundin buying Filo Corp together. That is a joint bid… Your interpretations can lead to confusion of some readers.
Docket 434
No Collusion: The Acceptable Bidder must acknowledge in writing (a) that it has
not engaged in any collusion with respect to any Bids or the Sale Transaction,
specifying that it did not agree with any Acceptable Bidders or Potential Bidders to
control price; and (b) agree not to engage in any collusion with respect to any Bids,
the Auction, or the Sale Transaction. For the avoidance of doubt, this requirement
does not restrict Potential Bidder(s) from working with other Potential Bidder(s)
with the Debtors’ prior written consent (email shall suffice) following the Debtors’
consultation with the Consultation Parties;