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FOCALPOINT PARTNERS ANNOUNCES THE CHAPTER 11 AUCTION OF CHELLINO CRANE

 

1. Background:

Chellino Crane, Inc. et al. (collectively, the “Debtors”), based in Joliet, Illinois, is one of the largest crane operations in the Midwest, specializing in providing full service capabilities to niche markets such as refineries, power, and chemical plants. The companies sought chapter 11 protection on May 5, 2017. The bankruptcy is pending in the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division, as Case No. 17-14200.

2. Motion: 

On August 17, 2017, the Debtors filed an amended motion (the “Motion”) [Docket No.426]for entry of orders, among other things: (i) approving Bidding Procedures (the “Bidding Procedures”) in connection with the sale (the “Sale”) of substantially all assets owned by Debtor Chellino Crane, Inc. and all related real estate and personal property owned by Debtors (collectively, the “Purchased Assets”).

3. Order: 

On August 23, 2017, 2017, the Bankruptcy Court entered the Bidding Procedures Order. Pursuant to the Bidding Procedures Order, if the Debtors receive any Qualified Bids (as defined in the Bidding Procedures), the auction for the Purchased Assets shall take place on September 25, 2017, at 10:00 a.m. (prevailing Central time) (the “Auction”). Only parties that have submitted a Qualified Bid in accordance with the Bidding Procedures, attached to the Bidding Procedures Order as Schedule 1, by no later than September 19, 2017 at 4:00 p.m. (prevailing Central time) (the “Bid Deadline”) may participate at the Auction. Any party that wishes to take part in this process and submit a bid for the Purchased Assets must submit their bid prior to the Bid Deadline and in accordance with the Bidding Procedures.

4. Sale Hearing:

The Sale Hearing to consider approval of the Sale of the Purchased Assets to the Buyer or such other Prevailing Bidder or Runner-Up Bidder free and clear of all liens, claims, and encumbrances will be held before the Honorable Janet S. Baer, United States Bankruptcy Judge, 219 S. Dearborn St., Room 615, Chicago, Illinois 60604 on September 28, 2017 at 10:30 a.m. (prevailing Central time) (the “Sale Hearing”), or at such other time thereafter as counsel may be heard

5. Additional Information:

This Notice and the Sale Hearing is subject to the complete terms and conditions of the Motion, the Bidding Procedures Order, the Bidding Procedures, and the Opt-Out Procedures. Copies of these documents can be found: (a) on the Court’s website, http://ecf.ilnb.uscourts.gov; (b) on the case management website maintained by Epiq Bankruptcy Solutions LLC, noticing and claims agent for the Debtor, http://dm.epiq11.com/chellino; and with the Clerk of the Bankruptcy Court, 219 S. Dearborn St., Room 713, Chicago, Illinois 60604.

6. More Informationa:

For more information, please contact: Jonathan P. Friedland or Elizabeth B. Vandesteeg, of Sugar Felsenthal Grais & Hammer LLP, atjfriedland@SFGH.come and  evandesteeg@SFGH.com. Michael Fixler, of FocalPoint Partners at mfixler@focalpointllc.com.

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