Asset Sales Databank

In re Allegiance Telecom, Inc., et al., Case No. 03-13057 (RDD) (Bankr. S.D.N.Y. January 15, 2004)

user — Tue, 13 Jul 2010 17:56:05 +0000

Description of Assets:

Substantially All Assets of the Debtor

14 years 50 weeks ago

Price Range:

50M - 100M

Proposed Sale Price:

$390 million

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) evidence of financial capacity to close (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) on the same terms and conditions or better as stalking horse bid; (2) Irrevocable until closing; (3) made in good faith; (4) no financial contingencies; (5) evidence of financial capability; (6) deposit of $30 million if bid is for all or substantially all assets, 10% of bid for anything less

Due Diligence Limitations:

Each potential bidder that has complied with Requirements to Submit Bid; to conduct due diligence with respect to assets to be acquired

Required Deposit:

$30 million if bid is for all or substantially all assets, 10% of bid for anything less

Initial Over Bid Requirement and Bid Increment Data:

$21 million over stalking horse purchase price

Bid Protections (including break up fees, cost reimbursements, etc.):

$8 million (~ 2%) plus reimbursement of actual, reasonable and documented expenses in connection with the transaction, not to exceed $5 million

Procedures concerning contracts and leases (§365):

Bidders must provide the Debtor with a confidential list of leases and executory contracts that the bidder plans to assume. Debtor shall consult with qualified bidders regarding the calculation of cure amounts and rejection damage claims. Contract parties are given the ability to object to cure amounts after notice and hearing upon a later date.

Submitter and Affiliation:

Asset_Admin

In re NRG Energy, Inc., et al., Case No. 03-13024 (PCB) (Bankr. S.D.N.Y. September 10, 2003)

user — Tue, 13 Jul 2010 19:37:33 +0000

Description of Assets:

Substantially all assets of jointly administered debtor subsidiary.

15 years 16 weeks ago

Price Range:

50M - 100M

Proposed Sale Price:

$159,950,000

Qualified Bidder Requirements:

(1) evidence of financial capability/ likelihood to consummate sale; (2) any additional information reasonably requested by the seller (1) confidentiality agreement; (2) submitted required information/ documents

Supplemental Bid Requirements:

(1) marked and executed stalking horse agreement to show changes in terms; (2) deposit in the amount of 5% of stalking horse bid; (3) irrevocable until 10 days post closing date; (4) no financing due diligence or other such contingencies; (5) approval of bidder's board of directors; (6) evidence of financial capability (7) proof of qualified agent to appear at auction Credit bid in the amount of lien on assets is allowed to value of the lien plus cash component of at least $5 million

Due Diligence Limitations:

Open to all bidders satisfying Requirements to Submit Bid and that the seller determined to be qualified to participate in bidding process; reasonable access to seller's books, records and executives; to be completed prior to auction

Required Deposit:

5% of stalking horse bid

Initial Over Bid Requirement and Bid Increment Data:

$1.5 million + break-up fee over stalking horse purchase price and thereafter, at least $500,000 higher than the existing highest bid.

Bid Protections (including break up fees, cost reimbursements, etc.):

Either a $5 million (~ 3%) break-up fee or expense reimbursement not to exceed $1.5 million

Procedures concerning contracts and leases (§365):

To become a Qualified Bidder must identify each executory contract or unexpired lease, the assumption of which is a condition of closing. Within 5 days of entry of bid procedures order, Debtor is to notice contract parties of intent to assume and assign and provide cure amount. Contract parties then have opportunity to object

Submitter and Affiliation:

Asset_Admin

In re Fountainhead Communications, Inc., Case No. 02-15374 (BRL) (Bankr. S.D.N.Y. November 14, 2002)

user — Tue, 13 Jul 2010 19:40:43 +0000

Description of Assets:

Inventory, accounts receivable, furniture, fixtures, equipment and certain agreements

16 years 7 weeks ago

Price Range:

0-250K

Proposed Sale Price:

$150,000 with right to credit bid

Qualified Bidder Requirements:

(1) Audited financials; (2) proof of noncontingent offer; (3) signed purchase agreement with purchase price at least $225,000

Supplemental Bid Requirements:

Purchaser must be willing to pay cure amounts

Due Diligence Limitations:

Interested purchasers must pay cure amounts

Required Deposit:

10% of the initial bid offered

Initial Over Bid Requirement and Bid Increment Data:

$17,500 cash with proof of cashiers check of at least 10% over previous bid

Bid Protections (including break up fees, cost reimbursements, etc.):

$15,000 plus up to $60,000 in expenses

Procedures concerning contracts and leases (§365):

Debtor must provide notice of sale and cure amounts to contract parties. Non-debtor parties then have 5 business days to object to cure amount.

Submitter and Affiliation:

Asset_Admin

In re Bethlehem Steel Corporation, et al., Case Nos. 01-15288 through 01-15302, 01-15308 through 01-15315 (BRL) (Bankr. S.D.N.Y. March 27, 2003)

user — Tue, 13 Jul 2010 20:05:28 +0000

Description of Assets:

Substantially all of the assets of the Debtor

15 years 40 weeks ago

Price Range:

50M - 100M

Proposed Sale Price:

Cash portion- $955 million

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) financial statements (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) marked stalking horse agreement to show changes in terms; (2) irrevocable; (3) $10 million deposit; (4) not conditioned on obtaining financing

Due Diligence Limitations:

Qualified bidders only; to conduct reasonable due diligence; must provide non-binding proposal; not to continue past bid deadline; seller entitled to due diligence from the qualified bidder

Required Deposit:

$10 million

Initial Over Bid Requirement and Bid Increment Data:

$15 million over the sum of the stalking horse purchase price; the break-up fee; and the expense reimbursement

Bid Protections (including break up fees, cost reimbursements, etc.):

$27 million (2.7%) + expense reimbursement up to $5 million; not permitted in competing bids

Procedures concerning contracts and leases (§365):

Debtor is to notice contract parties of intent to assume and assign and provide cure amount. Contract parties then have opportunity to object.

Submitter and Affiliation:

Asset_Admin

In re RSL COM PRIMECALL, INC., et al., Case No. 01-11457 and 01-11469 (ALG) (Bankr. S.D.N.Y. April 11, 2002)

user — Tue, 13 Jul 2010 20:12:52 +0000

Description of Assets:

Data and long distance servicing company and certain executory contracts and unexpired leases

16 years 38 weeks ago

Price Range:

1M - 5M

Proposed Sale Price:

$2.6 million cash in escrow; assume $5.15 million in liabilities

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) financial statements (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) written, signed offer to purchase marked to reflect changes to the stalking horse agreement; (2) on the same terms and conditions or better as the stalking horse bid, with at least $1 million better offer; (3) not conditioned on further due diligence; (4) does not request a break-up fee or similar reimbursement; (5) includes a deposit of $2.6 million and (6) is likely to receive all necessary governmental approvals

Due Diligence Limitations:

Open to all bidders who advise Debtor in writing of intent to make qualifying bid, the structure and financing of the transaction, and any significant departure from the terms of the purchase agreement

Required Deposit:

$2.6 million

Initial Over Bid Requirement and Bid Increment Data:

$1 million initial overbid, successive overbids are $250,000

Bid Protections (including break up fees, cost reimbursements, etc.):

$3.1% break-up fee of $475,000 for $15.5 million purchase price

Procedures concerning contracts and leases (§365):

Asset Purchase Agreement provides for the assignment of certain contracts, prohibition of certain assignments; and the option upon request to assign other contracts. Specific government contracts are assumed and assigned and the purchaser is not responsible for paying the pre-petition amounts due per the terms of the order.

Submitter and Affiliation:

Asset_Admin

In re Genuity, Inc., et al., Case No. 02-43558 (PCB) (Bankr. S.D.N.Y. December 16, 2002)

user — Tue, 13 Jul 2010 20:15:41 +0000

Description of Assets:

Substantially all assets.

16 years 2 weeks ago

Price Range:

50M - 100M

Proposed Sale Price:

$242,156,160 subject to adjustment

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) financial statements (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) written, signed offer to purchase marked to reflect changes to the stalking horse agreement; (2) irrevocable until closing of sale; (3) deposit of at least the sum of the expense reimbursement and break-up fee; (4) on the same terms and conditions or better as stalking horse bid; (5) evidence of financial capability

Due Diligence Limitations:

Qualified Bidders only; access to seller’s data room and other relevant materials; designated point person of seller; seller entitled to due diligence from the qualified bidder; not to continue past bid deadline

Required Deposit:

Sum of the expense reimbursement and break-up fee or greater

Initial Over Bid Requirement and Bid Increment Data:

$12 million over the sum of the stalking horse purchase price, break-up fee and maximum expense reimbursement

Bid Protections (including break up fees, cost reimbursements, etc.):

$10 million (~ 4.1%) + expense reimbursement not to exceed $3 million; not permitted in competing bids

Procedures concerning contracts and leases (§365):

Within 5 days of entry of bid procedures order, the Debtor shall serve notice to contract parties of intent to assume and cure amount. Contract parties will have opportunity to object.

Submitter and Affiliation:

Asset_Admin

In re PSINET, Inc., et al., Case No. 01-13213 (REG) (S.D.N.Y. July 19, 2001)

Wed, 14 Jul 2010 03:39:15 +0000

Description of Assets:

Ordinary shares of PSINet Hong Kong Limited

17 years 24 weeks ago

Price Range:

15M - 20M

Proposed Sale Price:

HK$148 million (~$19 million)

Qualified Bidder Requirements:

See bid requirements

Supplemental Bid Requirements:

(1) marked purchase agreement; (2) evidence satisfactory to sellers and creditors committee of financial capability

Due Diligence Limitations:

Competing offers shall not be conditioned on the outcome of unperformed due diligence by the bidders.

Required Deposit:

Not Addressed

Initial Over Bid Requirement and Bid Increment Data:

Initial competing proposal must be at least US$20,288,461 (unclear what initial bid was) Overbids must include additional consideration of US$512,821

Bid Protections (including break up fees, cost reimbursements, etc.):

Approximately $551,282 plus expenses of up to approximately $250,000

Procedures concerning contracts and leases (§365):

Not Addressed

Submitter and Affiliation:

Asset_Admin

In re The Singer Company N.V., et al, Case Nos. 99-10578 through 99-10607, 99-10613, 99-10616 through 99-10629, and 00-10423 (BRL) (Bankr. S.D.N.Y. July 26, 2000)

Wed, 14 Jul 2010 14:43:26 +0000

Description of Assets:

Capital stock of Singer Europa SGPS, SA

18 years 23 weeks ago

Price Range:

30M - 50M

Proposed Sale Price:

$36.75 million Euros (~$34 million)

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) financial statements (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) stalking horse agreement marked to show changes in terms; (2) irrevocable until 48 hours after the closing of a transaction with successful bidder; (3) 1.5 million Euro deposit; (4) written evidence of financial capability

Due Diligence Limitations:

Qualified bidders only; receive confidential memorandum and stalking horse stock purchase agreement; to conduct due diligence, must provide non-binding proposal; designated point person of seller; not to continue past bid deadline

Required Deposit:

1.5 million Euros; retained by seller until 48 hours after closing of the transaction, but not later than 30 days after the sale hearing

Initial Over Bid Requirement and Bid Increment Data:

1.5 million Euros over stalking horse price

Bid Protections (including break up fees, cost reimbursements, etc.):

3% + out of pocket expenses not to exceed $250,000 Euros; not permitted in competing bids

Procedures concerning contracts and leases (§365):

Not Addressed

Submitter and Affiliation:

Asset_Admin

In re Stylesite Marketing, Inc., et al., Case No. 00-10099 through 00-10101, 00-10103 (SMB) (Bankr. S.D.N.Y. February 9, 2000)

abi_admin — Tue, 20 Jul 2010 18:41:31 +0000

Description of Assets:

Substantially all of the Debtors’ Assets

18 years 47 weeks ago

Proposed Sale Price:

Omitted from filed documents available on docket.

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) financial qualifications; (3) such other information the sellers reasonably request Proof of ability to close transaction subject to bids

Supplemental Bid Requirements:

(1) marked purchase agreement; (2) 10% deposit; (3) identify assets to be bid on; (4) specify portion to be paid in cash and portion in other form of value; (5) provide information regarding non-cash value; (6) evidence of legal empowerment and financial capability to consummate sale; (7) no contingencies; (8) identify contracts/leases to be assumed. Seller reserves right to withdraw from sale, reject all bids if not a fair and adequate price in seller’s reasonable judgment

Due Diligence Limitations:

Sellers will provide copy of proposed purchase agreement and will provide reasonable access to seller's books, records and executives

Required Deposit:

10% of bid; returned within 5 days after closing

Initial Over Bid Requirement and Bid Increment Data:

None (no stalking horse)

Bid Protections (including break up fees, cost reimbursements, etc.):

None (no stalking horse)

Procedures concerning contracts and leases (§365):

All contracts and leases including the amounts to cure which are subject to being assumed or rejected are described in the asset purchase agreement. Contract parties must be served with notice of the sale motion; an adequate assurance package of the winning bidder and a copy of the sale order. Court will fix a date for contract parties to file objections. If contracts/leases are to be assumed, bidder must provide adequate assurance of ability to perform in the future

Submitter and Affiliation:

Admin

In re Our Lady of Mercy Medical Center, Case No. 07-10609 (Bankr. S.D.N.Y. March 8, 2007) *At time of publication, no order entered on this motion. Hearing on motion to approve bid procedures had been set but not held.

abi_admin — Tue, 20 Jul 2010 18:41:53 +0000

Description of Assets:

Substantially all assets of the debtor as a going concern, including hospital, parking garage, licenses, intellectual property and certain executory contracts

11 years 42 weeks ago

Price Range:

20M - 30M

Proposed Sale Price:

Approximately $24.7 million

Qualified Bidder Requirements:

(i) Confidentiality agreement; (ii) written nonbinding expression of interest

Supplemental Bid Requirements:

(i) irrevocable, noncontingent, unconditional offer in substantially same terms as the purchase agreement attached to motion; (ii) purchase price over $35 million; (iii) evidence of ability to close *Closing will require governmental and regulatory approval

Due Diligence Limitations:

Not specifically addressed

Required Deposit:

$1.3 million

Initial Over Bid Requirement and Bid Increment Data:

$100,000

Bid Protections (including break up fees, cost reimbursements, etc.):

$650,000 maximum including expenses

Procedures concerning contracts and leases (§365):

Debtor to give notice of motion and cure amounts to contract counterparties; debtor can remove and/or amend list of assumed contracts before hearing but must provide notice; nondebtor party will have opportunity to object but if objection is not resolved by sale hearing amount of cure will be put in escrow account

Submitter and Affiliation:

Asset_Admin

In re Refco Inc., et. al., Case No. 05-60006 (RDD) (Bankr. S.D.N.Y. Oct. 17, 2005)

abi_admin — Tue, 20 Jul 2010 18:42:02 +0000

Description of Assets:

Regulated Commodities Futures Merchant Business/ Assumption and Assignment of Executory Contracts and Leases/ Substantially all assets of the Debtor

13 years 11 weeks ago

Price Range:

50M - 100M

Proposed Sale Price:

$282,000,000

Qualified Bidder Requirements:

Non-binding indication of interest; (2) confidentiality agreement; (3) evidence of financial capability/ likelihood to consummate sale Potential Bidder: Can seek court review of debtor’s determination that bidder is qualified so long as challenge raised and resolved prior to auction. Bidder qualifications are irrevocable after auction commencement. Bidders with submitted qualified bids will receive: (1) written notice of auction; (2) copies of all bids; (3) financial information on estimated alu

Supplemental Bid Requirements:

Identify the bidder and sponsors; (2) written evidence of governing body approval; (3) specify whether purchasing all or part of the business; (4) must specify a separate purchase price for non-core assets from the Acquired Business; (5) must state whether keeping current employees or address severance etc.

Due Diligence Limitations:

Bids will be adjusted downward in an amount equal to additional severance costs if the bid proposes to sever more employees than stalking horse.

Required Deposit:

Not addressed.

Initial Over Bid Requirement and Bid Increment Data:

Increments of at least $2 Million; (2) comply with stalking horse bidder requirements; (3) financial disclosure of capability to consummate sale

Bid Protections (including break up fees, cost reimbursements, etc.):

No break-up fee, termination fee or expense reimbursement allowed.

Procedures concerning contracts and leases (§365):

10 days notice of proposed assumption and assignment given to counterparty and if no objection, such notice is adequate

Submitter and Affiliation:

Asset_Admin

In re Archway Cookies LLC, Case No. 08-12323, (Bankr. D. Del. Oct. 6, 2008) In re Mother’s Cake & Cookie Co., Case No. 08-12326 (Bankr. D. Del. Oct. 6, 2008) Jointly administered under Case No. 08-12323 (CSS)

abi_admin — Tue, 20 Jul 2010 18:57:46 +0000

Description of Assets:

Archway- Substantially all of the tangible and intangible debtor’s assets; Mother’s- certain assets

10 years 12 weeks ago

Price Range:

30M - 50M

Proposed Sale Price:

Purchase Price: Archway- $25 million; Mother’s- $12.1 million

Qualified Bidder Requirements:

(1) submit required documents; (2) deposit; (3) financial capability/ likelihood to consummate sale; (4) irrevocable until closing; (5) no break-up fee expense reimbursement or similar payment (except for stalking horse bidder); (6) disclose each entity bidding for assets or participating in bid and all terms of its participation Debtor may aggregate separate bids from unaffiliated persons to create one qualified bid

Supplemental Bid Requirements:

(1) provide marked stalking horse agreement to show changes in terms; (2) same terms and end date as stalking horse agreement; (3) no release for bidder of preference liability in excess of $400,000; (4) not contingent on obtaining financing or due diligence or board of director/internal approval or consent; (5) no conditions precedent; (6) meet minimum purchase price: (Archway-$26.2 million; Mother’s-$5.3 million; Joint-$31.5 million)

Due Diligence Limitations:

Any party is allowed access to all material information provided to any potential bidder if party executes an acceptable confidentiality agreement

Required Deposit:

Archway- $1,500,000 Mother’s- $500,000 Joint- $2 million

Initial Over Bid Requirement and Bid Increment Data:

Archway-$250,000 Mother’s- $100,000 Joint-$350,000 Stalking horse bidder receives a credit in the mount of the break-up fee

Bid Protections (including break up fees, cost reimbursements, etc.):

Archway- $750,000 break-up fee and expenses not to exceed $200,000 Mother’s- $150,000 break-up fee and expenses not to exceed $50,000

Procedures concerning contracts and leases (§365):

Archway- (1) Purchaser has sixty (60) days after closing to designate the contracts to be assumed and assigned by seller; (2) Purchaser shall provide assumption notice to non-debtor party to contract designated for assumption; (3) assumption notice shall be filed with the bankruptcy court containing: (i) proposed cure amount; (ii) notice that objections must be filed within fifteen (15) days after filing of assumption notice; (iii) failure to timely object results in waiver; (iv) party failing t

Submitter and Affiliation:

Asset_Admin

In re Whitehall Jewelers Holdings, Inc. et al., Case No. 08-11261-KG (Bankr. D. Del. June 23, 2008)

abi_admin — Tue, 20 Jul 2010 18:58:10 +0000

Description of Assets:

Substantially all of the Debtors’ assets (excluding consigned goods by order and opinion dated July 28, 2008)

10 years 27 weeks ago

Proposed Sale Price:

Purchase of assets from 17 store locations-price to be calculated at closing

Qualified Bidder Requirements:

(1) unconditional offer to purchase all or substantially all of debtors’ assets; (2) submit evidence of financial capability/ likelihood to consummate sale; (3) provide adequate assurance of future performance for assumption and assignment of executory contracts in bid proposal; (4) no shared bids Landlords of debtors are deemed qualified bidder for their respective leases provided they waive any lease rejection damage claim

Supplemental Bid Requirements:

(1) submitted in form of mark-up Purchase or Agency Agreement with initially payment of at least .5% greater than guaranteed percentage; (2) deposit of 10% of Guaranteed Amount; (3) use reasonable efforts to comply with document requests by landlord whose lease is proposed to be assumed and make a witness available for deposition on Aug. 5, 2008 at 10:00a.m.; (4) irrevocable until 7 days after selection of Successful Bidder

Due Diligence Limitations:

Qualified bidders only; Second Highest Bidder is required to keep bid open until transaction with Successful Bidder closes

Required Deposit:

10% of Guaranteed Amount

Initial Over Bid Requirement and Bid Increment Data:

If Landlord credit-bids, must post deposit equal to 10% over amount of credit bid.

Bid Protections (including break up fees, cost reimbursements, etc.):

Stalking-horse break-up fee is denied by the Court. If Successful Bidder or second-highest bidder after 7 days following the sale hearing fails to consummate sale, the deposit is not refundable.

Procedures concerning contracts and leases (§365):

Provide adequate assurance of future performance for assumption and assignment of executory contracts in bid proposal. Use reasonable efforts to comply with document requests by landlord whose lease is proposed to be assumed and make a witness available to testify for deposition regarding adequate assurance on Aug. 5, 2008 at 10:00a.m. Debtors shall provide adequate assurance for unexpired leases on real property and notify counterparties to executory contracts proposed to be assumed and assi

Submitter and Affiliation:

Asset_Admin

In re Cable & Wireless USA, Inc., et al., Case No. 03-13711 (CGC) (Bankr. D. Del. December 22, 2003)

abi_admin — Tue, 20 Jul 2010 18:58:20 +0000

Description of Assets:

Substantially all of the Debtors’ assets

15 years 1 week ago

Price Range:

50M - 100M

Proposed Sale Price:

$50million-$125 million

Qualified Bidder Requirements:

(1) submitted required information/ documents (written offer to purchase all or substantially all of debtor's assets; willingness to enter into legally binding agreement on terms no less favorable than stalking horse bid; financial statements or other financial disclosure); (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) irrevocable until closing if winning or back-up bidder; (2) no financing or due diligence contingencies; (3) evidence of financing capability; (3) deposit of $5 million

Due Diligence Limitations:

Not Addressed.

Required Deposit:

$5 million

Initial Over Bid Requirement and Bid Increment Data:

$1.5 million over the sum of the stalking horse purchase price, break-up fee and Expense reimbursement

Bid Protections (including break up fees, cost reimbursements, etc.):

Expense reimbursement not to exceed $1 million and either break-up fee of $2.5 million (2.0%) or termination fee of $1.5 million (1.2%)

Procedures concerning contracts and leases (§365):

Cure notice must be sent to contract parties within ten days of entry of bid procedures order. Contract party has two weeks to object to the cure amount or assert other issues.

Submitter and Affiliation:

Asset_Admin

In re Cone Mills Corporation, et al., Case No. 03-12944 (MFW) (Bankr. D. Del. November 7, 2003)

abi_admin — Tue, 20 Jul 2010 18:58:42 +0000

Description of Assets:

Substantially all of the Debtors’ assets.

15 years 8 weeks ago

Price Range:

30M - 50M

Proposed Sale Price:

$46 million cash portion of payment. Also accepting certain post petition expenses and professional fees

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) written evidence of financial ability to consummate sale (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) marked stalking horse agreement to show changes in terms or a purchase and sale agreement; (2) irrevocable until closing of sale transaction; (3) deposit of at least 10% of Qualified Bid amount; (4) not conditioned on obtaining financing; (5) written evidence of financial capability

Due Diligence Limitations:

Qualified bidders only; reasonable due diligence; must provide non-binding proposal; not to continue past bid deadline

Required Deposit:

10% of the amount of the Qualified Bid

Initial Over Bid Requirement and Bid Increment Data:

$2.8 million over the stalking horse purchase price

Bid Protections (including break up fees, cost reimbursements, etc.):

$1.8 million (~ 2%) + expense reimbursement up to $750,000; not permitted in competing bid

Procedures concerning contracts and leases (§365):

Debtor must serve cure amount notice to contract parties within ten business days of entry of the order. Contract parties have approximately 60 days to file an objection.

Submitter and Affiliation:

Asset_Admin

In re Pillowtex Corporation, et al., Case No. 03-12339 (PJW) (Bankr. D. Del. August 28, 2003)

abi_admin — Tue, 20 Jul 2010 18:58:51 +0000

Description of Assets:

Intellectual Property, equipment, contracts, avoidance actions. Not real property, inventory or accounts receivable.

15 years 18 weeks ago

Price Range:

50M - 100M

Proposed Sale Price:

$56 million subject to purchase price adjustment

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) financial statements (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) marked stalking horse agreement to show changes in terms; (2) irrevocable until closing if successful or next highest bidder or until one day after entry of sale order if; (3) deposit of at least 10% of Qualified Bid amount (increased to 15% if successful bidder); (4) not conditional on obtaining financing or due diligence

Due Diligence Limitations:

Qualified Bidders only; reasonable due diligence; not to continue past bid deadline; seller entitled to due diligence from the qualified bidder

Required Deposit:

At least 10% of Qualified Bid amount (increased to 15% if successful bidder)

Initial Over Bid Requirement and Bid Increment Data:

$500,000 over the sum of the stalking horse purchase price, break-up fee and expense reimbursement

Bid Protections (including break up fees, cost reimbursements, etc.):

$1.54 million (~ 2.5%) + expense reimbursement not to exceed $500,000

Procedures concerning contracts and leases (§365):

Within three business days of entry of the order approving bid procedures debtors shall serve notice of the cure amounts to all contract parties to unexpired leases, license agreement and executory contracts that are proposed to be assumed by the purchaser. Contract party has 30+ days to file objection. Court must approve assumption and/or assignments at time of approval of asset sale.

Submitter and Affiliation:

Asset_Admin

In re SHC, Inc., et al., Case No. 03-12002 (MFW) (Bankr. D. Del. July 28, 2003)

abi_admin — Tue, 20 Jul 2010 18:59:01 +0000

Description of Assets:

Substantially all of the Debtors assets

15 years 22 weeks ago

Price Range:

50M - 100M

Proposed Sale Price:

$125 million subject to specific adjustments

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) financial statements 1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) marked stalking horse agreement to show changes in terms; (2) irrevocable; (3) deposit of at least 10% of Qualified Bid amount; (4) no financing contingencies

Due Diligence Limitations:

Qualified bidders only; allowed to conduct reasonable due diligence, must provide written, non-binding proposal; not to continue past bid deadline; seller entitled to due diligence from the qualified bidder

Required Deposit:

At least 10% Qualified Bid amount

Initial Over Bid Requirement and Bid Increment Data:

$1 million over the stalking horse purchase price

Bid Protections (including break up fees, cost reimbursements, etc.):

Denied; requested break-up fee of $4.375 million and expense reimbursement of $1.25 million

Procedures concerning contracts and leases (§365):

Debtor to provide notice of entry of bid procedures and proposed cure amounts order to contract parties within three days of entry of order. Contract parties must file objection within approximately 30 days. Decision to assume and assign is subject to court approval and consummation of the asset sale

Submitter and Affiliation:

Asset_Admin

In re Fleming Companies, Inc., et al., Case No. 03-10945 (MFW) (Bankr. D. Del. July 8, 2003)

abi_admin — Tue, 20 Jul 2010 18:59:31 +0000

Description of Assets:

Wholesale Distribution Business

15 years 25 weeks ago

Price Range:

50M - 100M

Proposed Sale Price:

$400,000,000.

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) evidence of financial capacity to close (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) marked and executed stalking horse agreement to show changes in terms; (2) irrevocable until 10 days after closing of the sale; (3) $18 million deposit, or, if bid is for less than substantially all the Wholesale Distribution Business, amount equal to at least 4.75% of the cash purchase price (4) evidence of financial capability with no contingencies

Due Diligence Limitations:

Each potential bidder that has complied with Requirements to Submit Bid; to conduct due diligence; designated point person of seller; not to continue past bid deadline

Required Deposit:

Good faith deposit of at least $18 million, or, if bid is for less than substantially all the Wholesale Distribution Business, amount equal to at least 4.75% of the cash purchase price

Initial Over Bid Requirement and Bid Increment Data:

$19 million (or 4.75%) over the stalking horse purchase price

Bid Protections (including break up fees, cost reimbursements, etc.):

$11 million (2.75%) + expense reimbursement up to $4 million

Procedures concerning contracts and leases (§365):

Debtor must serve notice of intent to assume or assign to contract parties and contract parties have the opportunity to object

Submitter and Affiliation:

Asset_Admin

In re Touch America Holdings, Inc., et al., Case No. 03-11915 (KJC) (Bankr. D. Del. July 14, 2003)

abi_admin — Tue, 20 Jul 2010 18:59:47 +0000

Status:

Completed

Description of Assets:

Substantially all of the debtors’ assets

15 years 24 weeks ago

Price Range:

20M - 30M

Proposed Sale Price:

$28 million subject to adjustment

Qualified Bidder Requirements:

(1) confidentiality agreement; (2) financial statements (1) submitted required information/ documents; (2) financial capability/ likelihood to consummate sale

Supplemental Bid Requirements:

(1) written offer to purchase; (2) willingness to enter legally binding agreement; (3) similar to or more favorable than stalking horse bid; (4) irrevocable until day after closing; (5) $250,000 deposit; (6) evidence of financial capability;

Due Diligence Limitations:

Qualified bidders only; notice to seller of nature and extent of any additional due diligence; seller designates its point person; no obligation to furnish information after bid deadline

Required Deposit:

$250,000

Initial Over Bid Requirement and Bid Increment Data:

$250,000 + break-up fee over stalking horse purchase price

Bid Protections (including break up fees, cost reimbursements, etc.):

Break-up fee + expense reimbursement of $500,000 (in addition to $500,00 previously paid to stalking horse); not permitted in competing bids

Procedures concerning contracts and leases (§365):

The debtor must give notice of its intention to assume and assign as well as the cure amount to the contract parties within 7 days. Contract parties have deadline to file objections prior to final sale hearing.

Objection Filed to Proposed Terms:

Yes

Proposed Terms Modified:

Yes

Submitter and Affiliation:

Asset_Admin

In re Mirant Corporation, Case No. 03-46590 (Bankr N.D. Tex. October 28, 2004)

abi_admin — Tue, 20 Jul 2010 19:00:06 +0000

Description of Assets:

Turbines

14 years 9 weeks ago

Price Range:

30M - 50M

Proposed Sale Price:

Proposed Purchase Price $46.5 million for 3 turbines; price decreases for purchase of 1 or 2 turbines only.

Qualified Bidder Requirements:

(1) Confidentiality agreement; (2) financial proof of ability to close; (3) proof of internal authority to engage in sale transaction

Supplemental Bid Requirements:

Provide definitive purchase agreement marked to show modifications; present exact price and number of turbines sought to be purchased; indicate noncontingent nature of offer

Due Diligence Limitations:

Must sign confidentiality agreement and provide evidence to Debtor to show reasonably likely to consummate sale

Required Deposit:

5% of proposed consideration regardless of number of turbines sought

Initial Over Bid Requirement and Bid Increment Data:

$100,000

Bid Protections (including break up fees, cost reimbursements, etc.):

Reimbursement and break up fee Depend on the number of turbines actually sold and for what reason they were not sold to Stalking Horse. On high end: (1) reasonable and actual documented out of pocket costs not to exceed $600,000; (2) topping fee of $1,395,000

Procedures concerning contracts and leases (§365):

Not addressed

Submitter and Affiliation:

Asset_Admin