noncompete validity after company closed

Ohio

The bank closed the company I was working for and has assigned the assets to the benefit of creditors; it is going to auction.

Several companies have approached me to work for them as well as individuals to invest in me starting my own company with a diversified product offering, including some of the services and products, which they offered; most products were custom engineered.

What is the associated risk to me if someone buys the business at an auction?What is the name of your state (only U.S. law)?

It may depend on the wording of the agreement. Normally, a contract is an asset that can be sold (called "assigned" in legal terminology). But many contracts contain express provisions that make them not assignable. In addition, there may be other reasons that the purchased non-compete agreement would not be enforceable against you. You should talk to an attorney.