The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Ormet Corporation on July 17, 2014. The debtor has been authorized to sell substantially all its assets to Niagara Worldwide, LLC, the highest bidder for a purchase price of $25.25 million in cash pursuant to an asset purchase agreement dated June 26, 2014. Hillary Schumaker of Armstrong Teasdale LLP acted as legal advisor for Niagara Worldwide.