Asyst Technologies, Inc. (fka ASYTQ)

[trader53]

The "Wind-Down Reserve and Distribution Fund", has NOT been completed yet. >

9.1 Conditions to Consummation
The Plan may not be consummated, and the Effective Date shall not occur, unless "The Wind-down Budget is completed", thirty (30) days after the Confirmation Date.



Docket #665 2/6/2012
Operating Report for Filing Period

OCTOBER 1, 2011 THROUGH DECEMBER 31, 2011
Filed by Trustee Other Prof Scouler & Company, LLC, as Liquidating Trustee (Danker, Ashleigh)

http://dm.epiq11.com/ATI/docket/Default.aspx?rc=1


Chapter 11 Bankruptcy Case, NOT closed yet.

UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
OAKLAND DIVISION

ASYST LIQUIDATION TRUST TRUSTEE REPORT FOR THE PERIOD
OCTOBER 1, 2011 THROUGH DECEMBER 31, 2011

Asyst Liquidation Trust
Trustee Report
October 1, 2011 – December 31, 2012

Liquidation Trust Agreement Required Reporting (Article 3.4, section (p))

(i) The receipt and disposition by the Liquidation Trustee of property of the Estate or the Debtor during the prior quarter, including the disposition of funds in the Liquidation Trust, the Wind-Down Reserve and Distribution Fund.




ARTICLE 9—CONDITIONS TO CONFIRMATION AND CONSUMMATION

_________________________________________________________________

"If the Confirmation Order is vacated, the Plan shall be null and void in all respects,"

__________________________________________________________________

FORM 8-K
March 10, 2010

On March 10, 2010, Asyst filed with the United States Bankruptcy Court for the Northern District of California (Oakland) a Notice of Plan Effective Date. The Notice filed with the Court highlighted the Plan effective date of March 5, 2010 and is attached as Exhibit 99.2 and is incorporated herein by reference.



DEBTOR’S PLAN OF LIQUIDATION
DATED DECEMBER 23, 2009
UNDER CHAPTER 11 OF THE BANKRUPTCY CODE

page 32

9.1 Conditions to Consummation
The Plan may not be consummated, and the Effective Date shall not occur, unless and until each of the conditions set forth below is satisfied. Except as provided in Section 9.2, anyone or more of the following conditions may be waived:

1. The Lenders have reviewed and approved of the proposed Confirmation Order;

2. The Confirmation Order shall have become a Final Order;

3. The Wind-down Budget is completed; and

4. The Debtor and/or Liquidation Trust have sufficient Cash on hand (or investments projected by the Debtor to provide timely Cash) to make timely Distributions sufficient (including allocating Cash to reserves as provided in the Plan) to make payments in respect of all allowed Administrative Claims, and allowed Fee Claims required as of the initial Distribution Date.


9.2 Waiver of Conditions to Consummation

Other than the requirement that the Confirmation Order must have become a Final Order and the Debtor and/or Liquidation Trust must have sufficient Cash on hand, none of which can be waived, the requirement that a particular condition be satisfied may be waived in whole or part by consent of the Debtor, after consulting with KeyBank, without notice or hearing.


9.3 Effect of Nonoccurrence of the Conditions to Consummation

If each of the conditions to consummation and the occurrence of the Effective Date has not been satisfied or duly waived thirty (30) days after the Confirmation Date, or such later date as shall be agreed by the Debtor, after consulting with KeyBank, the Confirmation Order may be vacated by the Court. If the Confirmation Order is vacated, the Plan shall be null and void in all respects, and nothing contained in the Plan or otherwise shall constitute a waiver or release of any Claims by or against, or Interests in, the Debtor.