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OptMed, Inc. Article 9 Sale of certain property owned by OptMed, Inc. will be held on October 20th; deadline to qualify to bid is five days prior. Assets include U.S. and Chinese issued patents, trademarks (including one for BONDEASE, for “Adhesives, sealants and tissue bonding substances for surgical and other general medical uses”). Offered in a single lot. Auction Consultant is Rock Creek Advisors.
More information on DailyDAC
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Bank Street Village (f/k/a City Line at Hightstown). Article 9 Sale of certain limited liability company membership interests on 3PRC, LLC, a New Jersey limited liability company, that are owned by 3P Hightstown, LLC, will be starting on November 8th and concluding on November 11th; deposits due November 8th. 3PRC is the developer of Bank Street Village (f/k/a City Line at Hightstown). This is a large-scale property development consisting of 343 apartment units in three buildings, 43 townhouses, parking structures, related amenities, appurtenant structures & improvements. Auctioneer is Auction Advisors.
More information on DailyDAC
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225 E. Deerpath, Lake Forest, IL 60045, commonly referred to as “Deerpath Plaza.” Article 9 Sale of 100% LLC interest in the owner of Deerpath Plaza will be held on November 17th; any interested bidder must become a qualified bidder prior to sale. Auctioneer is Mannion Auctions.
More information on DailyDAC
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Practically speaking, think of chapter 15 as the tail, and the overseas bankruptcy as the dog. In other words, it is ancillary (but potentially essential) to the main foreign bankruptcy. Under chapter 15, the representative of the foreign insolvency proceeding may seek “recognition” of the foreign insolvency from a U.S. Bankruptcy Court. Read more in this article by Melanie L. Cyganowski.
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Firms struggle when their declining cash flows (and expected returns) reduce liquidity and prevent them from amortizing their long-term debt according to the schedule negotiated with the financing source. The original long-term financing (real estate mortgage or corporate bonds) for a new plant may need to be restructured because of the company’s overall falling financial performance. If the company can convince itself that future interest rates will be low for debt carrying shorter-term maturities (such as lines of credit, asset-based facilities or revolving facilities), then the company may choose to refinance longer-term debts with shorter-term, lower-interest rate financing. Read more in this article by David Bagley.
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Latest Deals Added to the Opportunistic Deal Database
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The deals listed here were added to the ODD throughout the seven-day period ending this past Friday. The number in parentheses next to each deal is its unique ID number, included so you can easily find these deals on our website by searching for this number.
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Article 9/Secured Party Sales
- Developer of specialty healthcare products - (30699)
- Medical office condo - 1,622 sq. ft. - (30707)
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Private Company Sales
- Residential HVAC business - (30733)
- Commercial roofing company - (30735)
- Waste management company - (30731)
- Kitchen & bath remodeler - (30736)
- Specialty manufacturer - (30732)
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Chapter 11 - 363 Sales
- Natural gas drilling company - (30696)
- Luxury rental property - (30698)
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Chapter 11 - Investment Banker Application Filed
- No new deals added this week
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Chapter 11 - Case Filing Indicates Future Asset Sale
- No new deals added this week
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Chapter 7 - Sale of Business Assets
- No new deals added this week
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Chapter 12 Bankruptcy
- No new deals added this week.
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Receiverships
- Water treatment equipment manufacturer - (30705)
- Vacant land - 5.3 acres - (30703)
- Retail Mall - (30702)
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Assignment for the Benefit of Creditors Sales
- No new deals added this week.
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Plant/Facility Closings
- Stainless steel manufacturer - (30727)
- Automotive parts fabricator - (30729)
- Soft drink bottling company - (30730)
- Power management company - (30725)
- Dried fruit distributor - (30726)
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Rating Agency Alerts/Other Signs of Distress
- Travel & event management services business - (30719)
- Dealer of automated pizza vending machines - (30715)
- Dry cleaning refuse system developer - (30718)
- Electronics services dealer - (30717)
- Plastic fabrication plant - (30716)
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Auctions/Other Interesting Sales
- Vehicles, equipment & recreational toys - (30778)
- Multi-national machine company - (30779)
- Irrigated farm - 1,112 acres - (30781)
- Vineyard & plantable land - (30780)
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Bulk Sales
- Shipping services business - (30714)
- Chain of ice cream shops - (30711)
- Retail marketplace - (30712)
- Branded gas station - (30713)
- Restaurant/Cafe - (30710)
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Mass/Significant Layoffs
- Trucking support company - (30724)
- Trucking company - (30720)
- Biopharmaceutical company - (30721)
- Bowling pin manufacturer - (30722)
- Rail vehicle equipment supplier - (30723)
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