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Metabolix, Inc. has completed the sale of its biopolymer intellectual property and certain equipment and inventory to an affiliate of CJ CheilJedang Corporation for a total purchase price of $10 million. The first $2 million of the purchase price was paid by CJ on execution of the binding letter of intent in August 2016, and the $8 million balance was paid on closing of the transaction. In connection with the asset sale, Metabolix also entered into a sublease with CJ covering approximately one-third of the Company's Woburn, Massachusetts facility.

Doran Lofts, LLC, asks the Y.S. Bankruptcy Court for the Central District of California to authorize the sale of real property commonly known as 730 W. Doran Street, Glendale, California, outside of the ordinary course of business to John K. Woo or assignee for $10,000,000.

Debtor: Pioneer Breaker & Control Supply, Co.
            2216-B Rutland Dr.
            Austin, TX 78758

Case No.: 16-11095

Chapter 11 Petition Date: September 21, 2016

Friedrich von Kaltenborn-Stachau, in his capacity as insolvency administrator of Pickenpack Holding Germany GmbH, has filed a voluntary petition under Chapter 15 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.

ScripsAmerica, Inc., seeks authority from the U.S. Bankruptcy Court for the District of Delaware to employ Bolognese & Associates, LLC as special litigation counsel to the Debtor, nunc pro tunc to September 7, 2016.

Bjorner Enterprises, Inc., a California Corporation, seeks authorization from the U.S. Bankruptcy Court for the Northern District of California to employ MacConaghy & Barnier, PLC as counsel for the Debtor-in-Possession.

Debtor: Onsite Temp Housing Corporation
            2140 W Williams Drive
            Phoenix, AZ 85018

Case No.: 16-10790

Chapter 11 Petition Date: September 20, 2016

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  • Metabolix, Inc. Closes $10M Sale of Assets to CJ CheilJedang

    Metabolix, Inc. has completed the sale of its biopolymer intellectual property and certain equipment and inventory to an affiliate of CJ CheilJedang Corporation for a total purchase price of $10 million. The first $2 million of the purchase price was paid by CJ on execution of the binding letter of intent in August 2016, and the $8 million balance was paid on closing of the transaction. In connection with the asset sale, Metabolix also entered into a sublease with CJ covering approximately one-third of the Company's Woburn, Massachusetts facility.

    Written on Monday, 26 September 2016 00:47 in Latest News Be the first to comment! Read 30 times Read more...