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Court to Address Selection of Platinum Partners Value Arbitrage Fund As Winning Bidder for Glacial Energy

June 16, 2014

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Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

A bankruptcy court is scheduled to address at a hearing today the results of a sale process for Glacial Energy and certain related companies.

An auction resulted in Platinum Partners Value Arbitrage Fund LP being the winning bidder for the Glacial retail suppliers and related assets. Vantage Commodities Financial Services I LLC had served as stalking horse bidder in the auction, and its bid remains the "back-up" bid

Platinum Partners Value Arbitrage Fund LP is indirectly affiliated with Photon Management LLC and Hasbro Management LLC, which entities are minority shareholders of debtor Glacial Energy Holdings.

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