(Bloomberg) -- FX Concepts LLC, the currency hedge fund founded by John Taylor in 1981, asked a bankruptcy court for permission to sell its trademark and trading models to Ruby Commodities Inc. for $7.48 million after an auction yesterday.

Ruby made the best offer for all the company’s assets after 39 rounds of bidding, International Foreign Exchange Concepts Holdings Inc., the holding company for FX Concepts, said a filing yesterday in U.S. Bankruptcy Court in Manhattan. Before that, FX Concepts proposed to sell its trading models individually and drew offers that valued them at as much as $3.48 million, according to court papers.

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