Assigned to: Judge Dennis Montali Chapter 15 Voluntary |
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Debtor APVO Corporation
530 Bush Street Suite 403 San Francisco, CA 94108 SAN FRANCISCO-CA Tax ID / EIN: 27-2584862 |
represented by |
Debra I. Grassgreen
Pachulski, Stang, Ziehl, and Jones LLP 150 California St. 15th Fl. San Francisco, CA 94111-4500 (415)263-7000 Email: [email protected] Jason Rosell
Pachuiski Stang Ziehi & Jones LLP 150 California St, 15th Fl San Francisco, CA 94111 (415)263-7000 Email: [email protected] |
U.S. Trustee Office of the U.S. Trustee / SF
Phillip J. Burton Federal Building 450 Golden Gate Ave. 5th Fl., #05-0153 San Francisco, CA 94102 (415)705-3333 |
| Date Filed | # | Docket Text |
|---|---|---|
| 01/23/2017 | 31 | Docket Text Order Entrusting the Distribution of the Proceeds of the French Sale to the Foreign Representative Pursuant to Section 1521(b) of the Bankruptcy Code (Related Doc # 17) (dmf) (Entered: 01/24/2017) |
| 01/23/2017 | Docket Text Hearing Dropped. The hearing on 1/24/17 at 10:00 a.m. is taken off calendar per the Court's 1/22/17 Docket Text Order. (related document(s): 17 Motion Miscellaneous Relief filed by APVO Corporation) (lp ) (Entered: 01/23/2017) | |
| 01/22/2017 | Docket Text DOCKET TEXT ORDER (no separate order issued:) Granted No objection has been filed to the Motion of Foreign Representative for Entry of an Order (I) Recognizing French Sale Order, (II) Authorizing and Approving Sale of Assets, (III) Authorizing the Assumption and Assignment of Certain Executory Contracts, and (IV) Granting Related Relief. The motion is well-taken and will be GRANTED. The hearing on January 24, 2107, at 10:00 AM is dropped from calendar. Counsel for the Foreign Represented should upload a form of order granting the motion. (RE: related document(s) 17 Motion Miscellaneous Relief filed by Debtor APVO Corporation). (Montali, Dennis) (Entered: 01/22/2017) | |
| 01/04/2017 | 30 | Docket Text Hearing Set On (RE: related document(s) 17 Motion of Foreign Representative for Entry of an Order (I) Recognizing French Sale Order, (II) Authorizing and Approving Sale of Assets, (III) Authorizing the Assumption and Assignment of Certain Executory Contracts, and (IV) Granting Related Relie). Hearing scheduled for 1/24/2017 at 10:00 AM at San Francisco Courtroom 17 - Montali. (dmf) (Entered: 01/04/2017) |
| 01/03/2017 | 29 | Docket Text Certificate of Service (RE: related document(s) 26 Order on Motion for Miscellaneous Relief, 28 Notice of Continued Hearing). Filed by Debtor APVO Corporation (Rosell, Jason) (Entered: 01/03/2017) |
| 01/03/2017 | 28 | Docket Text Notice of Continued Hearing (RE: related document(s) 17 Motion of Foreign Representative for Entry of an Order (I) Recognizing French Sale Order, (II) Authorizing and Approving Sale of Assets, (III) Authorizing the Assumption and Assignment of Certain Executory Contracts, and (IV) Granting Related Relief Filed by Debtor APVO Corporation). Filed by Debtor APVO Corporation (Rosell, Jason) (Entered: 01/03/2017) |
| 12/30/2016 | 27 | Docket Text PDF with attached Audio File. Court Date & Time [ 12/30/2016 10:08:46 AM ]. File Size [ 4332 KB ]. Run Time [ 00:18:03 ]. (admin). (Entered: 12/30/2016) |
| 12/30/2016 | Docket Text Hearing Held. Motion granted; sale approved. Counsel will upload an order. A Notice of Proposed Distribution to the U.S. Creditors shall be filed no later than 1/4/17; objections shall be filed no later than 1/17/17; replies shall be filed no later than 1/20/17. a hearing will be held on 1/24/17 at 10:00 a.m. (related document(s): 17 Motion Miscellaneous Relief filed by APVO Corporation) (lp ) Modified on 1/3/2017 (lp). (Entered: 12/30/2016) | |
| 12/30/2016 | 26 | Docket Text Order (I) Recognizing French Sale Order, (II) Authorizing and Approving Sale of Assets, (III) Authorizing the Assumption and Assignment of Certain Executory Contracts, and (IV) Granting Related Relief (Related Doc # 17) (wbk) (Entered: 12/30/2016) |
| 12/29/2016 | Docket Text DOCKET TEXT ORDER (no separate order issued:) Tentatively, absent persuasive last minute objections, the court will recognize the French court sale order, permit the assumption and assignment of the executory contracts where the counter-parties have agreed, and find that Figaro Classified is a good faith purchaser. But distribution of the APVO sale proceeds in accordance with French law is problematic. First, there has been no persuasive showing why that must occur and why such a requirement impacts the sale itself. Disapproval of the proposed distribution should not impact the finality of the sale for the protection of the buyer. Second, the de minimis distribution to U.S. creditors is not a sufficient reason. De minimis is in the eye of the beholder. Third, APVO is a California corporation, and distribution of the sale proceeds in accordance with non-bankruptcy California law should protect all U.S. creditors. At the hearing on December 30, 2016, counsel for the Foreign Representative should be prepared to explain why the Foreign Representative could not disburse the proceeds of sale in accordance with California law (i.e., simply prorata to APVOs creditors, including Viadeo), rather than French law. (RE: related document(s) 17 Motion Miscellaneous Relief filed by Debtor APVO Corporation). (Montali, Dennis) (Entered: 12/29/2016) |