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Plastic Materials Manufacturing Company in Delaware

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Listing Information

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Plastic Materials Manufacturing Company in Delaware



Price: Not Specified

Other Item Info
Item #: debke_156118
Created: 11/14/2014
Category: Business Property > All Assets or Going Concerns > Chemicals
Sale Location: New York, New York
Sale Date: Tue. Jan 6, 2015
Seller Info
Norman L. Pernick
Debtor's Attorney
500 Delaware Avenue,Suite 1410
Wilmington, DE 19801
302-652-3131
Bankruptcy Info
Case #: 1:14-bk-12237
Case Title: Reichhold Holdings US, Inc.
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of substantially all of the Reichhold Holdings US, Inc., Describe as below:
all assets, properties, rights and interests of every kind and description, tangible or intangible of the Sellers used or held for use in the conduct of the Business, other than Excluded Assets, Including the following: (i) all Purchased Contracts, including all options to renew or extend and any and all audit rights provided for in such Purchased Contracts; (ii) all fixed assets, leasehold improvements, vehicles, production equipment assets, machinery and equipment; (iii) all inventory owned by the Sellers, (iv) all other tangible personal property and interests therein owned by any Seller; (v) all prepaid expenses, prepaid rents, utility deposits, advance payments and deposits on contractual obligations made in connection with the Business, but excluding prepayments with respect to Excluded Contracts; (vi) all claims and rights under contracts, supplier agreements, purchase orders, work orders, leases of equipment, machinery, production machinery, tooling and other items of personal property; (vii) all Permits used or held for use in the conduct of the Business; (viii) all Sellers' Records; (ix) all rights of any Seller with respect to the Purchased Owned Real Property; (x) the Purchased Real Property Leases; (xi) all rights of any Seller under non-disclosure, confidentiality or similar agreements entered into with third parties in connection with the sale of the Business or any part of the Business; (xii) all rights, claims, causes of action, defenses and credits of any Seller related to any Purchased Asset or Assumed Liability; (xiii) all warranties, guarantees and similar rights related to the Purchased Assets; (xiv) all cash and cash equivalents of the Sellers in excess of the Retained Cash; (xv) all accounts receivable relating to the Business; (xvi) the Purchased Intellectual Property; (xvii) all Chapter 11 Deposits; (xviii) other than as set forth in the Stalking Horse Agreement, all insurance policies and rights and claims thereunder relating to the Business and Purchased Assets; (ixx) all of the Company's right, title and interest in the Company's equity interest in Resimon, C.A. and the right to any distribution; (xx) all goodwill and other intangible assets associated with the (a) Trademarks including the Purchased Intellectual Property and (b) the Business; (xxi) the Purchased IT Assets.


Sale Location

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488 Madison Avenue, 14th Floor
New York, NY, 10022

Additional Details

  1. Auction Time: 10:00 a.m.
  2. Sale Price: (i) surrender and release a portion of the Junior DIP Obligations equal to fifteen million dollars ($15,000,000) (such aggregate amount, as maybe increased pursuant to Section 3.1(b) of the Stalking Horse Agreement, the "Credit Bid Amount"), (ii) waive and release all Junior DIP Obligations not included in the Credit Bid Amount (which may be adjusted, as per below), and (iii) make a payment to Sellers in an amount equal to the difference, if any, between (A) the Sellers' Closing Costs and Wind Down Expenses and (B) Retained Cash (the "Closing Cash Shortfall").
  3. Bid Deadline: December 30, 2014 at 5:00 p.m.
  4. Bid Deposit Amount: (10%) of the purchase price
  5. Overbid Amount: (1) the Purchase Price, plus (2) $1,000,000
  6. Bid Increment Amount: $500,000
  7. Last Date to Respond – November 25, 2014


Other Information

Terms and Conditions:

See attached.


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