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Katy Industries Bankruptcy Sale Exhibit Added

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Katy Industries filed with the U.S. Bankruptcy Court a notice of filing of Exhibit F to its previously-filed sale motion.

The notice states, “The Bidding Procedures Order requires that the Debtors file the Proposed Sale Order on or before July 5, 2017. Accordingly, the Debtors hereby file the Proposed Sale Order, which is designated as Exhibit F to the Sale Motion. The Sale Hearing will be held before the Honorable Kevin J. Carey, United States Bankruptcy Court for the District of Delaware, 824 Market Street, Wilmington, Delaware 19801, 5th Floor, Courtroom 5, on July 17, 2017, at 11:00 a.m. (EDT), or at such time thereafter as counsel may be heard or at such other time as the Bankruptcy Court may determine.”

The Exhibit notes, “The Final APA constitutes the highest or best offer for the Purchased Assets and will provide a greater recovery for the Debtors’ estates than would be provided by any other available alternative….Approval of the Sale Motion and the Final APA and the consummation of the transactions contemplated thereby is in the best interests of the Debtors, their creditors, their estates and other parties in interest. The Debtors have demonstrated compelling circumstances and a good, sufficient, and sound business purpose and justification for the Sale prior to, and outside of, a plan of reorganization.”

Read more Katy Industries bankruptcy news.

The post Katy Industries Bankruptcy Sale Exhibit Added appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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