A Delaware bankruptcy judge is considering whether to approve the sale of RadioShack's intellectual property, including trademarks and customer data, for $26 million to a hedge fund or to reopen the auction.
Wednesday's hearing follows an auction won by General Wireless, an affiliate of hedge fund Standard General. General Wireless also is acquiring more than 1,740 of the electronics retailer's stores.
Another bidder, Wonderland Investment Group, complained that the intellectual property auction was improperly changed after several rounds of open bidding, with potential buyers told to submit sealed bids with their final offers.
Wonderland is offering $30 million for RadioShack's intellectual property and says the auction should be reopened.
Doing so, however, could upset a settlement agreement with state attorneys general to protect the privacy of RadioShack customers.
