A bankruptcy judge has cleared California stereo-equipment maker AuraSound Inc. to auction its assets, with GGEC America Inc., a subsidiary of the company's biggest creditor and main primary supplier, kicking off bidding with a $4.8 million offer, Dow Jones DBR Small Cap reported today. Bankruptcy Judge Mark S. Wallace on Wednesday said that AuraSound can auction the assets, including the exclusive, royalty-free license to use AuraSound’s trademarks and all of the assets related to the operation of AuraSound’s Hitachi, Vizio and NRT lines of business, on March 1.
