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The U.S. Bankruptcy Court issued an Order approving Scottish Annuity & Life Insurance Company’s designation of the winning and backup bidders and their respective bids. The order states, “Hildene is hereby designated as the Winning Bidder and its Bid as embodied in the Winning Bidder SPA and Winning Bidder Transaction Documents is designated the Winning Bid. Hudson is hereby designated the Backup Bidder and its final bid as reflected in the Stalking Horse SPA and related agreement and documents, as modified as set forth on the record at the Auction, is designated the Backup Bid.” The Court scheduled a hearing for June 28, 2018 to consider the auction results, with objections due by June 25, 2018.
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