My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1994-03-23_GENERAL DOCUMENTS - C1981017
DRMS
>
Day Forward
>
General Documents
>
Coal
>
C1981017
>
1994-03-23_GENERAL DOCUMENTS - C1981017
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
2/2/2021 9:42:43 AM
Creation date
4/30/2012 10:05:22 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1981017
IBM Index Class Name
GENERAL DOCUMENTS
Doc Date
3/23/1994
Doc Name
Sale of rockdist plant
From
Holden & Jessop, P.C.
To
Cheryl Linden
Permit Index Doc Type
General Correspondence
Media Type
D
Archive
No
Tags
DRMS Re-OCR
Description:
Signifies Re-OCR Process Performed
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
3
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Cheryl A. Linden <br /> March 23, 1994 <br /> Page 2 <br /> immediately forward any new offers which I receive. If Mid-Valley <br /> submits an offer which is better than Eubanks, I would suggest that <br /> the State object to the Eubanks sale on the grounds that a higher <br /> and better offer has been received. We then can let the <br /> competition play itself out. If one bidder drops out, we could <br /> amend the gale motion to include the best offer and stipulate to a <br /> withdrawal of the State's objection to the sale as amended. <br /> A competition between prospective purchasers is likely to <br /> have modest benefit. The Eubanks and Pete Lien offers total <br /> $447,600; Mid-Valley's re-entry into the picture may boost by the <br /> sale price by 625,000 or so. One additional advantage of a sale to <br /> Mid-Valley is that it has expressed interest in purchasing the <br /> train loadout parcel which is adjacent to the rockdust plant. We <br /> would anticipate a sale price in the range of $1 million or no, <br /> which under the Plan would generate about $700,000 for reclamation. <br /> Sale of the rockdust parcel to Mid-Valley might be a spur to sale <br /> of the loadout parcel. <br /> With respect to the sale of the Carbondale industrial <br /> Park, which ought to generate another $700,000 or so for <br /> reclamation, yesterday I received a new draft contract from the <br /> Town of Carbondale. As you have been advised through copies of <br /> prior correspondence with the Town, the issuers for Resources have <br /> been the Town's conditions to closing rather than price. I think <br /> we are getting close to finalizing a contract with the Town. The <br /> Town has demanded that a contract be reached by April 11 or it <br /> threatens to look for other sites. <br /> The Town's interest in purchasing the Industrial Park has <br /> been reported in the local press. John Buchanan advises that he <br /> has an investor group which wishes to purchase the property for use <br /> as an industrial park, and which will submit an offer at or above <br /> the Town's offer with no contingencies. As with the rockdust <br /> plant, I advised that time is of the essence and that we are under <br /> pressure to finalize terms with the Town by the and of the month. <br /> As with the rockdust plant, we are prepared to switch to an <br /> alternative purchaser who is prepared to buy the property without <br /> satisfaction of external conditions. <br /> As can be seen from the foregoing, negotiating a sale in <br /> bankruptcy sometimes puts a property into play, with the result <br /> that a better price is reached than is initially submitted. <br /> We appreciate the State's acceptance of the chapter it <br /> Plan as amended. As I mentioned over the telephone, Sanwa has <br /> Accepted the Plan, thereby consenting to the subordination of its <br /> senior lien positions in favor of reclamation. Also, the general <br /> E"d ' dOSS3f I H3Ql0H WH92:80 b6. EZ HUW <br />
The URL can be used to link to this page
Your browser does not support the video tag.