UTICA, NY -- A US bankruptcy court yesterday set the rules for the asset sale of Endicott Interconnect Technologies, effectively bringing to a close the first chapter of the company's post-IBM history.

Bids for the assets are due Sept. 19, and the sale of the printed circuit board fabricator and assembler will close Sept. 26, the court decided.

Any objections to the sale are also due Sept. 26, the court determined. Possible objections could be made by unsecured debtors, who stand to lose substantial amounts if the bids come in low, as expected.

The company could be sold in pieces or as a standalone unit. EI officials reportedly said their wish is for a buyer who would keep the company operating

EI has received a bid by Integrian Holdings, a company launched this year by EI cofounder James Matthews, which offered $250,000 and the assumption of certain liabilities. Integrian had received sums totaling $8 million from EI this year, presumably as payment for loans made by Matthews and his family.

For more on the EI bankruptcy, read here and here.

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