Hoping for relief, the “Cambridge Endoscopic Devices, Inc.” filed an appeal “under chapter 11 of the Bankruptcy Code”. The case has been filed in the Bankruptcy Court of U.S in the Massachusetts district.
There has been a notice issued, namely the “Sale Notice”, which clarifies the detailed information about the filing whereby it shows that the intentions are to put up a sale of “Substantially All Assets” that are “Free and Clear of Liens, Claims and Interests”, while following the “Deadlines and Procedures for Submitting Offers and Objections” and the hearing date that was filed with the “Bankruptcy Court” on the 25th of September 2015 is also mentioned in the same.
From the notice, the information obtained reveals that C.E.D wants to sell “sell substantially all of its assets” which would also include the ones “without limitation” like tangible properties that cover research equipment, machinery, inventory, tooling and fixture, “intellectual properties” that claims the “patents” and their applications along with “regulatory clearances” of assets which will be given “to White Sand Beach LLC” for being the secured creditors’ agent for the company of C.E.D. Moreover, any other organisation of the kind who quotes the highest price for acquiring the Assets can also satisfy the last criteria.
According to BussinessWire:
“The Proposed Sale is made pursuant to an Asset Purchase Agreement (the “APA”) between the Company and WSB, for a purchase price of $3,100,000. Pursuant to Section 363 (f) of the Bankruptcy Code, the Assets will be sold free and clear of liens, claims and encumbrances as set forth in the APA. A more detailed description of the Assets and the terms and conditions of the proposed sale is contained in the APA. Competing offers must comply with the procedures set forth in the Sale Notice. Competing bids for the Assets must be submitted by November 19, 2015 by 5:00pm EST”.
The buyers who are interested in the sale are welcome to bid the purchase rate of the Assets or any of their “substantial portion”. In order to know the next procedure of acquisition along with any other additional information regarding the Assets, the potential buyers are requested to “contact John Schulte”. In fact, the clients can also “arrange” for the delivery, following the execution which will lead to a confidential agreement between the party and C.E.D and thereof expect “such additional will be provided”. BusinessWire informs:
“To obtain a copy of the Sale Notice or APA please contact CED’s counsel, Michael Goldberg of Casner & Edwards, LLP, (617) 426-5900, goldberg@casneredwards.com”.
Moreover, talking about C.E.D’s Asset sale programme, the report states:
“Cambridge Endoscopic Devices, Inc. has developed and marketed a line of disposable, hand held laparoscopic devices that have full 7 degrees of freedom tip articulation. More than 30 issued patents and additional applications cover this technology for laparoscopic applications as well as other markets. A complete due diligence package is available to prospective bidders”.
References:
http://www.businesswire.com
There has been a notice issued, namely the “Sale Notice”, which clarifies the detailed information about the filing whereby it shows that the intentions are to put up a sale of “Substantially All Assets” that are “Free and Clear of Liens, Claims and Interests”, while following the “Deadlines and Procedures for Submitting Offers and Objections” and the hearing date that was filed with the “Bankruptcy Court” on the 25th of September 2015 is also mentioned in the same.
From the notice, the information obtained reveals that C.E.D wants to sell “sell substantially all of its assets” which would also include the ones “without limitation” like tangible properties that cover research equipment, machinery, inventory, tooling and fixture, “intellectual properties” that claims the “patents” and their applications along with “regulatory clearances” of assets which will be given “to White Sand Beach LLC” for being the secured creditors’ agent for the company of C.E.D. Moreover, any other organisation of the kind who quotes the highest price for acquiring the Assets can also satisfy the last criteria.
According to BussinessWire:
“The Proposed Sale is made pursuant to an Asset Purchase Agreement (the “APA”) between the Company and WSB, for a purchase price of $3,100,000. Pursuant to Section 363 (f) of the Bankruptcy Code, the Assets will be sold free and clear of liens, claims and encumbrances as set forth in the APA. A more detailed description of the Assets and the terms and conditions of the proposed sale is contained in the APA. Competing offers must comply with the procedures set forth in the Sale Notice. Competing bids for the Assets must be submitted by November 19, 2015 by 5:00pm EST”.
The buyers who are interested in the sale are welcome to bid the purchase rate of the Assets or any of their “substantial portion”. In order to know the next procedure of acquisition along with any other additional information regarding the Assets, the potential buyers are requested to “contact John Schulte”. In fact, the clients can also “arrange” for the delivery, following the execution which will lead to a confidential agreement between the party and C.E.D and thereof expect “such additional will be provided”. BusinessWire informs:
“To obtain a copy of the Sale Notice or APA please contact CED’s counsel, Michael Goldberg of Casner & Edwards, LLP, (617) 426-5900, goldberg@casneredwards.com”.
Moreover, talking about C.E.D’s Asset sale programme, the report states:
“Cambridge Endoscopic Devices, Inc. has developed and marketed a line of disposable, hand held laparoscopic devices that have full 7 degrees of freedom tip articulation. More than 30 issued patents and additional applications cover this technology for laparoscopic applications as well as other markets. A complete due diligence package is available to prospective bidders”.
References:
http://www.businesswire.com
