Get the Global Tech Today Newsletter.
Based on your reading history you may like
Schwarzman Says Blackstone Has ’Aggressive’ Plans for Growing
Scene Last Night: Schwarzman, Paulson, Dalio, Uma’s Dad
One KKR Is Acquiring Another KKR
Ex-Banker’s Wife Says Tiger Charity Funds Spent on Wine, Meals
Ukraine Getting $15 Billion From Russia Raises Questions
Mysterious Safes Opened in Jersey City Yield No Treasure
On Anniversary of Dad's Death, Kim Jong Un Shows Who's Boss
Google Just Bought a Mechinized Cheetah and Other Military Robots
Meet the Navy's New $150M Submarine-Destroying Jet
Proof It Pays to Be America's Most-Hated Companies
How Lego Became a Fast-Fashion Company
Ukraine in Talks With Russia for $15B Loan
Schwarzman: Financial Industry a Natural Target
EU's Ashton News Conf. on Ukraine, Iran, Russia
What Hilton’s IPO Means for Blackstone
Volcker Rule Is `Defendable,' CFTC's Chilton Says
The Stealthy Spy Drone that Looks Like a Bird
Silver Lake Said Near $2.3 Billion Purchase of IMG Worldwide
Law News Velti Says Blackstone Affiliate to Buy Business Lines
By Dawn McCarty Dec 17, 2013 12:02 PM PT 0 Comments Email Print
* Price chart for VELTI PLC. Click flags for important stories.
Velti Inc., a bankrupt provider of mobile-marketing technology, named an affiliate of Blackstone Group LP (BX)’s GSO Capital Partners LP as the winning bidder of its business lines.
Velti will ask the U.S. Bankruptcy Court in Wilmington, Delaware, to approve the sale to GSO MMBU Acquisition LLC on Dec. 20. Velti canceled a scheduled auction because no other qualified bids were received.
The proposed sale includes the business lines operated by Velti and Air2Web Inc. in the U.S.; Air2Web India, Velti DR Ltd. and Mobile Interactive Group Ltd. in the U.K., and Velti Netherlands BV in the Netherlands.
Velti, a U.S. unit of Velti Plc, listed assets of as much $50 million and debt of as much as $100 million in Chapter 11 papers filed Nov. 4. Operations in the U.K., Greece, India, China, Brazil, Russia, the United Arab Emirates and elsewhere outside the U.S. didn’t seek court protection.
Blackstone, based in New York, is the world’s largest manager of alternative assets such as private-equity funds and real estate.
The case is In re Velti Inc., 13-bk-12878, U.S. Bankruptcy Court, District of Delaware (Wilmington
If velt is gone you will have nothing to do maybe you can take up spelling like STAKE steak LOL LOL LOL LOL LMFAO
Won't an institution be hurting itself and its beneficiaries as shareholders of a company if it joins a lawsuit against the company in which it owns stock?
No. An institution's participation helps to rid the company of the cloud of fraud and move on to its business. Moreover, in many cases, the recovery comes from insurance that companies maintain and therefore has no adverse economic impact on the company. In any event, the case would proceed whether or not the institution actively participates.
How long do these cases take?
Each case is different, and it is hard to generalize. You should expect a case to take anywhere from one to four years.
lied and stolen from investors) can you prove that??? I would not want to be in your shoes if they come after you