Protected Vehicles to auction assets

On the heels of an announcement that American LaFrance's parent company wants to buy Protected Vehicles, the financially troubled company will hold an auction of its assets August 21. A judge approved the auction Thursday.

From the Charleston Regional Business Journal:

On Thursday, a bankruptcy judge approved the terms of an auction of PVI’s assets. Patriarch Partners, which owns American LaFrance, had agreed to buy PVI for $5 million, but that agreement is subject to better offers at the auction. After the auction, the judge will hold a hearing to determine whether to approve the sale.

The auction will be held August 21 at 10 a.m. at the Mills House hotel in downtown Charleston:

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After the auction, at 2 p.m., a court hearing will be held to see if Patriarch Partners' $5 million bid will go through. That hearing will be held a block away at U.S. Bankruptcy Court, 145 King St., Room 225.

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