When will we know (again) for sure?
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Important Dates and Deadlines Related to the Global Bidding Procedures Order:
• December 5, 2018: Deadline to submit Non-Binding Indication of Interest
• December 15, 2018: Deadline for the Debtors to designate Stalking Horse Bidder for Go Forward Stores and file a Sale Notice with respect to the Go Forward Stores designating a Stalking Horse Bidder
• December 28, 2018 (4:00 p.m.): Bid Deadline
• December 31, 2018 (4:00 p.m.): Deadline to object to the designation of a Stalking Horse Bidder and any Stalking Horse Bid Protections
• The later of (i) fourteen calendar days after service of the Assumption and Assignment Notice and (ii) January 7, 2019: Deadline to object to (i) proposed Cure Costs for Proposed Assumed Contracts in a Stalking Horse Bid and (ii) Adequate Assurance Information for Stalking Horse Bidder
• January 4, 2019 (4:00 p.m.): Deadline for Debtors to notify Prospective Bidders of their status as qualified Bidders and announcement of Auction Packages
• January 11, 2019 (10:00 a.m.): Hearing on Stalking Horse Designation Objections and on objections to the qualification of any Credit Bid by affiliate or insider, if necessary
• January 14, 2019 (10:00 a.m.): Auction held at Weil offices, if necessary
• January 16, 2019: Target date for debtors to file with the Bankruptcy Court the Notice of Auction Results and to provide the applicable Counterparty with Adequate Assurance Information for the Successful Bidder (if different than the Stalking Horse Bidder)
• The later of (i) January 24, 2019 and (ii) eight days of filing of the Notice of Auction Results and Service of the Adequate Assurance Information: Deadline to object to (i) the proposed Sale Transaction for a Successful Bidder (including a Stalking Horse Bidder), (ii) Debtors’ proposed Cure Costs for Proposed Assumed Contracts not included in any Stalking Horse Bid, (iii) the assumption of and assignment to a Successful Bidder that is not a Stalking Horse Bidder of any Proposed Assumed Contracts or any Contracts or Leases that may later be designated by such Successful Bidder for assumption and assignment, and (iv) conduct of the Auction
• January 29, 2019 (4:00 p.m.) or two days prior to the Hearing Date: Debtors’ deadline to reply to Sale Objections
• February 1, 2019 (10:00 a.m.): Sale Hearing
Who gives a c-ap, GET OUT! It’s like being on a titanic
Tomorrow the 9th for Eddie's bid
Monday the 14th is auction if anyone bids
Thursday the 31st see if bid is approved.
I think lampert has until tomorrow to come up with $120M in cash for a good faith deposit to bid on what’s left of SHLD. If he is outbid by people who want to liquidate, you’re all screwed.
With Special Ed, you’re screwed as well. May want to look for employment elsewhere.