This is a public record generated listing.
Claims for Sale
Listing Information
Attachments
Claims for Sale
Price: $875,000.00
Other Item Info
Item #: paebke_493468
Created: 01/18/2022
Category: Business Property > Financial > Claim
Sale Date: None Set
Created: 01/18/2022
Category: Business Property > Financial > Claim
Sale Date: None Set
Seller Info
CHRISTOPHER MATTHEW HEMRICK
Trustee's Attorney
ONE RIVERFRONT PLAZA 1037 RAYMOND BLVD.
6TH FLOOR NEWARK, NJ 07102
973-757-1100
Trustee's Attorney
ONE RIVERFRONT PLAZA 1037 RAYMOND BLVD.
6TH FLOOR NEWARK, NJ 07102
973-757-1100
Bankruptcy Info
Case #: 2:19-bk-17117
Case Title: Vascular Access Centers, L.P.
Court: Pennsylvania Eastern Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Vascular Access Centers, L.P.
Court: Pennsylvania Eastern Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of All of the Seller’s right, title, and interest and to any and all claims, breaches of contract, debt, suits, demands, causes of action whatsoever, whether known or unknown, contingent or liquidated, at law or in equity that are or could be brought in the Derivative Litigation, exclusive of claims under Chapter 5 of the Bankruptcy Code and similar State law.
Financial Overview
Income and Expenses ($)
months
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Asset and Liability Summary ($)
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Inventory:
FF&E:
Real Estate:
Total Assets:
Liabilities to assume:
Additional Details
Purchase Price: The total consideration for the Derivative Claims shall be:
i. Cash in the amount of $875,000.00 to be applied to the professional fee and expense portion of the Professional Fee Carve Out as set forth in the Order approving the EHS Sale provided, however, that if any portion of such Professional Fee Carve Out has been satisfied as of the Closing, then the remainder of the $875,000.00 shall be applied as a credit-bid against Gardner’s DIP Claim;
ii. Subject to conditions more fully set forth in the Term Sheet, post-petition financing in the amount of up to $625,000.00 to pay Allowed Administrative Claims (the “Administrative Claim Funding”);
iii. 20% of the Net Recovery on account of the Derivative Claims, as more fully set forth in the Term Sheet;
iv. Payments on account of Gardner’s DIP Claim shall be subordinate to payment of other valid claims in the Seller’s bankruptcy case, up to $1,000,000.00, as more fully set forth in the Term Sheet.