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Bankruptcy Judge OKs Sale Of Durango-Georgia Paper

POSTED: Tuesday, May 24, 2005

A federal bankruptcy judge has approved a motion that will allow the sale of Durango-Georgia Paper Co. and begin the process to repay creditors.

The ruling by Judge Lamar Davis Jr. allows trustees managing the Durango estate to accept bids on part or all of the paper company's assets.

A high bid in this process will be for the purpose of setting a minimum threshold for further bids at an auction. That high bidder would be allowed to enter another bid in this new auction.

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