City Opera redux?

The New York Times’ Michael Cooper reports on the ongoing bidding war for the remaining assets of the now-defunct New York City Opera – principally, it seems, the company’s name and stellar history. Two bidders offer $1.25 million and $1.5 million. Questions arise about both:

http://www.nytimes.com/2015/01/21/nyregion/potential-buyers-of-new-york-city-opera-hold-a-bidding-war-in-court.html