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Assets of Precious Metal and Catalytic Converter Recycling Business

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Assets of Precious Metal and Catalytic Converter Recycling Business



Price: Not Specified

Other Item Info
Item #: njbke_1049025
Created: 09/27/2019
Category: Business Property > All Assets or Going Concerns > General Industrials
Sale Location: Newark, New Jersey
Sale Date: Tue. Oct 29, 2019
Seller Info
J. Alex Kress
Trustee's Attorney
354 Eisenhower ParkwayPlaza II, Suite 1500
Livingston, NJ 07039
(973) 422-1100
Bankruptcy Info
Case #: 2:19-bk-24581
Case Title: Key Metal Refining LLC
Court: New Jersey Bankruptcy Court
Chapter: 7
View Case Docket

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Description

Sale of substantially all of assets of the Key Metal Refining LLC, including the following assets, properties, rights and interests:

  • All cash and cash equivalents, bank deposits, and certificates of deposit of the Estate; provided, however, that the Trustee may retain the foregoing and, in such case, anyamounts retained by the Trustee shall be treated as a dollar-for-dollar credit to the Purchase Price in favor of Buyer;
  • All accounts receivable and notes receivable (whether current or noncurrent) of the Estate including, with respect to the Business, all accounts receivable and notes receivable created or otherwise relating to any periods prior to the Closing Date (collectively, the “Accounts Receivable”);
  • KMR’s Documents in the possession of Trustee and to the extent not in the possession of Trustee, all rights in such Documents as may be in the possession of third parties, including, books, records, and Tax records and such other records having to do with the organization and capitalization of KMR;
  • All of KMR’s and the Estate’s rights under any Permits;
  • Intentionally omitted;
  • All insurance policies and the rights and proceeds thereunder relating to the Business;
  • (i) all of the intangible rights and property of the Estate related to the Business; (ii) all websites and domain name of KMR; (iii) all KMR Intellectual Property; (iv) all software or similar licenses granted to KMR used in connection with the operation of the Business;
  • Any rights or licenses under any Intellectual Property granted to KMR used in connection with the operation of the Business; (vi) all trade names and marks, together with the goodwill associated with the names and marks, of KMR;
  • KMR’s real property leases set forth on Schedule 2.5 (the “Real Property Leases”), including all rights of KMR pursuant thereto, but only to the extent any Real Property Leases are actually assumed by KMR and assigned to Buyer pursuant to Section 2.5. To the extent any of the Real Property Leases are not assigned to Buyer, then such leases shall be Excluded
  • Assets;
  • All of the personal property within the possession or control of the Trustee that is used in the Business, including equipment, all IT Assets, accessories, machinery, apparatus, furniture, fixtures, motor vehicles, computer hardware and office equipment, including, but not limited to, those items identified on Schedule 2.1(a) attached hereto (collectively, the “Equipment”);
  • All inventory and supplies maintained by KMR and in the possession of Trustee in connection with the Business, including, but not limited to, the inventory items identified on Schedule 2.1(b) attached hereto (collectively, the “Inventory”);
  • All customer lists, machinery and equipment records, mailing lists, quality control records and procedures, employment and personnel records (to the extent related to Business Employees actually employed by Buyer and permitted to be transferred by applicable Laws) and display materials, each to the extent used in the Business;
  • All claims of KMR against third parties relating to the Purchased Assets, whether choate or inchoate, known or unknown, contingent or non-contingent;
  • All Estate Causes of Action;
  • All rights relating to deposits and prepaid expenses relating to the Business or the Purchased Assets; and
  • To the extent assignable, all warranties (express and implied) that continue in effect with respect to any Purchased Asset.

Sale Location

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50 Walnut Street
Newark, NJ, 07102

Additional Details

Sale Hearing in "Courtroom 3B" @ 10:00 a.m.

Purchase Price: The purchase price due from Buyer at closing is in the range of $1,300,000.00 to $1,500,000.00, depending on the amount of unsecured and priority claims filed in the Chapter 7 Case. In addition, Buyer is agreeing to subordinate its claims against the seller's Estate to the claims of non-insider unsecured creditors.

Last date to respond: October 22, 2019



Other Information

Terms and Conditions:

See Attached.


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