Cyxtera Technologies, which voluntarily filed for Chapter 11 bankruptcy relief on June 4, 2023, was granted a court order on June 29, 2023, by the U.S. Bankruptcy Court for the District of New Jersey, authorizing a series of steps to sell or attract investment in the new equity interests issued by the reorganized company. The process involves setting up marketing, auction, and bidding procedures aimed at identifying the highest or most beneficial offers, with the ultimate goal of maximizing value for its first lien lenders.