Laserfiche WebLink
order approving Reorganized Debtors' sale of their property, <br />plant and equipment to the David J. Joseph Company ("DJJ"), free <br />and clear of all claims, liens and encumbrances, pursuant to .L1 <br />U.S.C. §§ 363, 1123(b)(5) and 1141((), for the sum of $2,800,000. <br />In support of this Motion, the Reorganized Debtors respectfully <br />represent as follows: <br />1. The Court has jurisdiction over this matter <br />pursuant to 28 U.S.C. §§ 157 and 1334.; This is a core proceeding <br />pursuant to 28 U.S.C. § 157(b)(2). <br />2. On February 12, 1993 (the "Confirmation Date"), the <br />Court entered an order confirming the Reorganized Debtors' Fi::st <br />Amended and Restated Plan of Reorganization (the "Plan"). <br />3. The Plan, at paragraph 53, provides that <br />All property of the Debtors or the Debtors' estates not :sold <br />under the Asset Purchase Agreement shall be used, sold, or <br />leased in an orderly manner using such methods as are <br />appropriate in the discretion of the Reorganized Debtors to <br />obtain for holders of Claims entitled to distribution; out <br />of such property the highest net value from such remaining <br />assets within a reasonable period of time. <br />4. The Plan, at page 14, describes the assets,t:o be <br />sold and provides that the net proceeds of their sale wil•1 be <br />used to fund the Appeal Fund described in the Plan. ": . <br />5. The Plan further provides, at paragraph 76, for <br />the retention of property by each of the Reorganized Debtoz-s. <br />The Plan further provides, at page 12, that after the Plan's <br />effective date, each Reorganized Debtor shall operate or <br />liquidate its remaining assets. <br />2 <br />