Judge Denies Sale of Hoku Plant

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0  Updated at 9:18 am, November 13th, 2013 By: Managing Editor
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( POCATELLO , ID ) – A federal bankruptcy judge has denied a motion to sell the Hoku plant in Pocatello , citing concerns about last month’s auction. The estimated $700 million facility went to the highest bidder for a meager $5.3 million. JH Kelley, which built the plant, offered the most money once the bulk and piecemeal auctions were finished. Judge Jim Pappas voiced concerns over whether the auctions followed proper legal procedures, and that large portions of the items being auctioned off had no bidders at all. Pappas has yet to determine if and how the plant will go up for auction again. 

 

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