Surveillance camera maker Arecont Vision LLC has asked a bankruptcy judge for approval to send its business to the auction block, hoping to complete a sale to a New York-based private-equity firm by mid-July, WSJ Pro Bankruptcy reported. Court papers filed on Friday with the U.S. Bankruptcy Court in Wilmington, Del., show that the company is preparing an auction for bidders to compete with a $10 million offer from an affiliate of Turnspire Capital Partners LLC. The sale process will be supervised by Judge Christopher Sontchi, and the proposed timeline and rules governing the auction must first win his signature. Arecont Vision has asked for a June 29 deadline for competing bids and a July 5 auction. A court hearing to approve the results of that auction would follow July 6.
