BridgeSpan Invites Bids for Assets

BridgeSpan Inc., Frisco, Texas, and its subsidiary BridgeSpan Title Co., have announced that they are "soliciting proposals for the purchase of their respective assets and operations," in whole or in part, in the wake of their Jan. 26 filing of Chapter 11 bankruptcy petitions.BridgeSpan and BridgeSpan Title said they "intend to select, and proceed to seek court approval of the best offer or offers received," based on a review of written offers received by Feb. 20. Offers may be tendered to BridgeSpan chief financial officer Lynelle Dahn, the announcement said -- with all assets, including BridgeSpan Title stock, to be sold to the highest bidder upon approval of the U.S. Bankruptcy Court in San Jose, Calif., and (in the case of BridgeSpan Title) the California Department of Insurance.