NEW YORK—Winstar Communications Inc. auctioned off its assets Dec. 5 at the offices of Winstar counsel Shearman & Sterling in New York.
As previously reported, Winstar announced Nov. 21 it would seek court approval for the auction procedures. At that time the company’s former Chief Executive Officer William Rouhana and President and Chief Operating Officer Nathan Kantor also resigned so they could be in a position to bid.
Winstar filed for bankruptcy in April, listing assets of $4.98 billion and liabilities of $5 billion, as of Feb. 28.
