Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Nova Wildcat Shur-Line Holdings, Inc. > News item |
H2-Brands receives $27.1 million stalking horse bid for assets
By Sarah Lizee
Olympia, Wash., March 7 – Nova Wildcat Shur-Line Holdings, Inc., doing business as H2-Brands, has received a $27.1 million stalking horse bid for its assets from Gordon Brothers Commercial & Industrial, LLC on behalf of its joint venture with Nations Capital, Inc., according to documents filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
The company has filed a motion seeking approval of its selection, as well as approval of bid protections. The parties are proposing an $813,006 (3%) breakup fee, and an expense reimbursement of up to $275,000.
As previously reported, the company received court approval to choose a stalking horse bidder under its recently-approved bid procedures.
Competing bids are due by 5 p.m. ET on March 15, an auction will be held on March 20, a sale hearing will take place on March 24, and the deadline to close the sale is March 31.
H2 Brands is a Cranbury, N.J.-based home and hardware products company. It filed bankruptcy on Jan. 29 under Chapter 11 case number 23-10114.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.