1. What is being sold? The assets of the following companies: Re-Poly, LLC, a Missouri limited liability company (“Re-Poly”), and Rhino Ventures, LLC, a Kentucky limited liability company (“Rhino” and, together with Re-Poly, the “Re-Poly Entities”).
2. What is the business of the Re-Poly Entities? Re-Poly is a recycler of post-consumer plastics specializing in difficult material streams, including large mixed rigid plastic (“MRP”). Located in St Louis MO, the company operates as a polyethylene and polypropylene reclaimer. The plant utilizes a proprietary process that is specifically designed to shred, wash, sort, and granulate a mixed material intake and can also process materials with high levels of metal contamination. Rhino owns two parcels of real estate, both of which are leased, and Re-Poly is a tenant.
3. When is the sale? There will be an auction (the “Auction”) on November 6, 2020 at 10:00 a.m. CT in order to determine the highest and best Bid (the “Successful Bidder”) for the assets of the Re-Poly Entities if at least one Qualified Bid (as defined in the Sale Procedures Order) has been submitted.
4. How do you make a Qualified Bid?
5. Who is the seller? Stephen Kunkel, not individually, but solely as the Court appointed General Receiver (the “Receiver”) over the Re-Poly Entities is the seller and will be the one who conducts the Auction. The Receiver was appointed as such in the case captioned CIBC BANK USA, formerly known as The PrivateBank and Trust Company v. RE-POLY, LLC, et al, Case Number 2022-CC09342, in the State of Missouri.
6. What are the rules of the Auction?
7. How can you get more information? Potential bidders may solicit digital copies of the Sale Procedures and Stalking Horse APA, and further information by contacting Receiver’s counsel, Lathrop GPM LLP, Attn: Bryan E Minier ([email protected]) and Emily E. Cantwell ([email protected]; or Receiver’s investment banker, Ravinia Capital Partners, LLC, Attn: Eric Welchko ([email protected]). Some additional information is below. The form of non-disclosure agreement (“NDA”), also below, must be executed and submitted prior to being granted access to a virtual data room that houses additional information about this opportunity.
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