Court approves stalking horse bid for Trump Tower in Toronto

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Canadian court approves bid for Trump tower in Toronto The entrance to the Trump International Hotel and Tower is shown in Toronto, Wednesday, Dec.9, 2015. (THE CANADIAN PRESS / Graeme Roy)

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 · According to bankruptcy lawyers watching the case, the bid could serve as an important initial offer, called a “stalking horse bid,” for the bankrupt company. From there, additional interested buyers would provide competing bids in an auction process overseen by Judge Robert Drain of the Southern District of New York.

so the offer from Lowe’s will become the stalking-horse bid for an auction. Such a bid sets the floor for an auction process that lets competitors make better offers. The Lowe’s bid must survive the.

The Globe and Mail.. Trump Toronto hotel put on the block. the successful bidder after making an initial "stalking horse" bid. The 65-storey tower in Toronto’s financial district opened in.

The court-run sale of Trump International Hotel & Tower had received no bids apart from a stalking horse offer of C$298 million by JCF Capital ULC, which bought the C$301 million ($226.11 million.

Nobody has stepped up with a bid to buy the Toronto condo and hotel tower bearing Donald Trump’s name, which means ownership of the infamous structure will now fall to its largest debt holder. Only $298M stalking horse offer was received for the luxury hotel and condo property.

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12. The Stalking Horse Agreement is a "credit bid" by the Secured Lender. The Secured Lender has confirmed to the Receiver that the Stalking Horse Agreement is the only offer that will be made by the Secured Lender and that it does not intend to make any additional offer for the Property at a price greater than the

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