“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.
“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.
Yeah, secret bids aren’t normally accepted in auctions. You’re generally supposed to know how much people are bidding so that you can bid above them, and I don’t think you’re supposed to include assets you don’t yet have control over as part of your bid either.
These rules not being followed is why the judge was initially so mad in the first place.