Guys in Suits
By David Henderson
Bankruptcy Judge Actually Understands Law
How did I miss this?
Judge Robert Drain ordered Delphi to hold an auction and allow bids to challenge the government-brokered sale to Platinum Equity. “What’s so special about Platinum?” asked Judge Drain. “They’re just guys in suits. Why can’t the other guys in suits just pay more?’
So reads an article in the June 12 Wall Street Journal. Judge Drain rebuffed the federal government’s hand-picked bidder, Platinum Equity. Read the whole thing.