Varig received just one bid at yesterday's bankruptcy auction, a BRL1.01 billion ($446.4 million) offer during the second round from a consortium of employees, well below the minimum bid for just the domestic routes, which was $700 million (ATWOnline, May 22). The bankruptcy court judge said he would take a day to decide whether to approve the sale anyway. A $75 million deposit would be required, the Associated Press reported. The judge also may liquidate the carrier. There will not be ...

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