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ECG sale was set for today

January 23 2008
A hearing on the sale of Ensemble Chimes Global was schedule for 10 a.m. (Pacific Time) today. Barry Olson, the former president of Chimes, is the opening bidder and has already begun operating the ECG system, according to the bankruptcy trustee. The initial bid price is $7.5 million, and Olson has reportedly struck a deal with Vedior on the purchase. Vedior was not able to comment on the case when contacted Tuesday.

ECG, the largest vendor management system, filed for bankruptcy, along with its parent company Los Angeles-based Axium International Inc., earlier this month.

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