On May 31, 2016, a motion for authority to sell assets of the estates pursuant to section 363 of the Bankruptcy Code was filed in the bankruptcy case of Vertellus Specialties Inc. and its affiliates.
The filing was assigned docket number 16 and is described on the court’s official docket as follows:
Motion of Debtors for Entry of Orders (I) (A) Approving and Authorizing Bidding Procedures in Connection with the Sale of Substantially All Assets, (B) Approving Stalking Horse Protections, (C) Approving Procedures Related to Assumption and Assignment of Certain Executory Contracts and Unexpired Leases, (D) Approving the Form and Manner of Notice Thereof, and (II) (A) Approving and Authorizing Sale of Substantially All Debtor Assets to Successful Bidder Free and Clear of All Liens, Claims, Encumbrances and Other Interests, (B) Approving Assumption and Assignment of Certain Executory Contracts and Unexpired Leases Related Thereto, and (C) Granting Related Relief Fee Amount $176 Filed by Vertellus Specialties Inc.. (Attachments: # 1 Exhibit A # 2 Exhibit B # 3 Exhibit C # 4 Exhibit D # 5 Exhibit E # 6 Exhibit F) (Brown, Stuart) Modified docket text on 5/31/2016 (LMD). (Entered: 05/31/2016)
Vertellus Specialties Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on May 31, 2016. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware . The case number for the lead bankruptcy case is 16-11290. The bankruptcy case is currently assigned to United States Bankruptcy Judge Christopher Sontchi. The law firm of DLA Piper US LLP is acting as lead bankruptcy counsel to Vertellus Specialties Inc. in the bankruptcy case.