November 15, 2024
Business

Lawyers still at work on sale of EnvisioNet Final paperwork expected to be ready Monday

PORTLAND – The final paperwork for the sale of EnvisioNet Computer Services to a California company is expected to be presented to a federal judge on Monday.

Lawyers for EnvisioNet and Alorica Inc. worked on the documents into Friday night. An EnvisioNet spokesman said the paperwork is expected to be completed in time to present to bankruptcy Judge James B. Haines Jr. on Monday.

The companies last Monday told Haines they expected to complete the deal by Thursday, but have missed their self-imposed deadline.

Alorica of Chino, Calif., won a bidding war for EnvisioNet in U.S. Bankruptcy Court with a package worth up to $11.8 million.

EnvisioNet officials believe the winning bid from Alorica, which runs call centers in Texas, Illinois and Utah, will ensure that EnvisioNet stays in Maine and that the company’s remaining 900 workers will keep their jobs.

EnvisioNet, which provides technical support to computer users, was launched in 1995 and employed 2,200 people early this year before going into bankruptcy because of its failure to secure $20 million in venture capital funding.


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