Judge Clears Croce, Eagen to Buy Statler

August 30, 2010 Updated Aug 30, 2010 at 6:32 PM EDT

By WKBW News

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August 30, 2010 Updated Aug 30, 2010 at 6:32 PM EDT

BUFFALO, NY (WKBW) - A U.S. bankruptcy court judge approved the sale of the Statler Towers to the only qualified bidder, Statler City LLC Monday.

Buffalo developer Mark Croce and his business partner James Eagen were deemed the only qualifying bidder in Monday morning's hearing, and finalized the process of the sale to their entity, Statler City LLC in bankruptcy court a few hours later.

Croce now has a 60-day due-diligence period in which he can opt out of the deal. The hearing and sale also are subject to an appeals period from jilted bidders, if there are any.

Eyewitness News is continuing to follow the day's events surrounding the sale of the Statler, and we will have more information as it becomes available.