Assets of Precious Metals Recycling Company
Listing Information
Assets of Precious Metals Recycling Company
Created: 02/18/2021
Category: Business Property > Inventory > Other
Sale Location: Spartanburg, South Carolina
Sale Date: Tue. Mar 23, 2021
Trustee
Post Office Box 505
Chapin, SC 29036
803-261-9806
Case Title: Mairec Precious Metals U.S., Inc.
Court: South Carolina Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of assets of Mairec Precious Metals U.S., Inc (the “Seller”). The seller specialized in the recovery of precious metals (platinum, palladium, and rhodium) from discarded materials. Operations at the Spartanburg plant involved crushing recyclable metals into a fine powder and sampling it before outsourcing it for smelting & refining. Precious metals are found in varying amounts within each lot of recycled material. For each lot, the seller retained approximately up to 6 sample containers each between 50 and 100 grams each of the fine powder for chemical testing and/or assays. Property of the estate includes numerous sample containing fine recyclable metal powder collected in the ordinary course of business and used for chemical testing and/or assays which contain a portion of the processed metal fine powder material which have been retained as part of the its business practice (the “Samples”). These Samples are owned by Mairec and have been maintained in the ordinary course of business pending the resolution of matters under the Debtor’s Confirmed Plan of Reorganization. All of the Samples owned by Mairec are being sold to Northam Platinum Limited.
Financial Overview
Additional Details
- Sale Hearing Time: 10:30 a.m.
- Sale Price: $60.25 per pound net material weight.
- Last date to respond: 21 days from the date of service
- Date of Service: February 17, 2021