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Good. Equity still in play. Let see if we get a miracle from now until April.
I believe the auction sale got postponed. So far no court documents.
Agree with the buying opportunities across the market. But the Auction Sale got postponed right??
So far no court document about it.
Me too. I’m waiting for the judge decision today....
Equity is not going to be cancel today. Equity will be cancel on the effective day. That date is yet to be announce. Probably by the first week of April unless the judge postpone the Sale until Virtis is approve.
For sure more than 2M. The agreement with Aleva involves royalties and warrants to buy Aleva stock. Remember Aleva just got CE approval in December 2019. Here...
I. The Committee has Colorable Claims to Obtain a Declaratory Judgment that the Aleva Warrants are Unencumbered Pursuant to 28 U.S.C. §§ 2201 and 2202.
92. Upon information and belief, the Debtor and Aleva Neurotherapeutics SA (“Aleva”) are party to that certain Warrant Agreement dated April 30, 2018 (the “Warrant Agreement”), whereby Aleva granted certain warrants to the Debtor (the “Aleva Warrants”).
93. Upon information and belief, the Aleva Warrants are valuable, and may be worth over $2 million.
http://www.kccllc.net/nuvectra/document/1943090200302000000000009
Agree. I believe the Aleva license plus nuvectra NOLs( around 150M) could be the key to create substantial value for shareholders.
The Aleva license could be a source of revenue in the future. Aleva got CE approval in December. If nuvectra keep the property, equipment and some extra, maybe a reverse merger with Aleva or another could happen.
It looks like shareholders will get something... Cirtec will assume the liabilities!
Nuvectra will keep...
Aleva license and warrants
Real property, equipment and inventory
Some cash
Cirtec Medical will assume...
1.3 Assumption of Liabilities. On the terms and subject to the conditions set forth in this Agreement and the Sale Order, effective as of the Closing Date, Purchaser shall assume from Seller (and pay, perform, discharge or otherwise satisfy in accordance with their respective terms), and Seller shall irrevocably convey, transfer and assign to Purchaser, the following Liabilities (collectively, the “Assumed Liabilities”):
(a) all Liabilities arising from Purchaser’s ownership of the Purchased Assets that arise after the Closing, including under Assigned Contracts and Product Approvals;
Seller’s rights under this Agreement, or any Ancillary Document and the
all current and prior director and officer insurance policies and insurance
(b)[Reserved];
and
(c) all Cure Costs with respect to Assigned Contracts that are assumed by
Purchaser after the Agreement Date (it being understood and agreed that Purchaser shall not be responsible for Cure Costs, if any, in connection with the Aleva License).
http://www.kccllc.net/nuvectra/document/1943090200303000000000007
Nuvectra-Aleva agreement. One good reason for the delay...
Today is the deadline for Cirtec Medical and Boston Scientific to decide if the want to buy the contract. Maybe that is the reason for the delay. The remaining asset that was outside the auction( due to the nature of the contract). Let see if get more money...
http://www.kccllc.net/nuvectra/document/1943090200228000000000009
“PLEASE TAKE FURTHER NOTICE that the Debtor seeks to assume and assign the License Agreement with Aleva Neurotherapeutics SA (the “Designated Contract”).
PLEASE TAKE FURTHER NOTICE that any objections to the assumption and assignment of the Designated Contract or whether the Successful Bidder or the Backup Bidder can provide adequate assurance of future performance must be filed by March 2, 2020 at 5:00 p.m.”
Assume and assign definitions:
An assignment and assumption agreement is used after a contract is signed, in order to transfer one of the contracting party's rights and obligations to a third party who was not originally a party to the contract. The party making the assignment is called the assignor, while the third party accepting the assignment is known as the assignee.
In order for an assignment and assumption agreement to be valid, the following criteria need to be met:
The initial contract must provide for the possibility of assignment by one of the initial contracting parties.
The assignor must agree to assign their rights and duties under the contract to the assignee.
The assignee must agree to accept, or "assume," those contractual rights and duties.
The other party to the initial contract must consent to the transfer of rights and obligations to the assignee.
A standard assignment and assumption contract is often a good starting point if you need to enter into an assignment and assumption agreement.
https://www.legalzoom.com/articles/understanding-an-assignment-and-assumption-agreement
Thank you, you too. So far your trading skills have been on the spot. I learned from my interaction with you. Happy trading.
TP you might be right!. I finally sold my remaining position in Suneq obviously at a loss. But is ok I'm close to recover everything in another stock. After reading the Suneq court documents for the past few days, the judge behavior and recent Terp and Glbl news, is obvious that Suneq is in a very difficult and costly position( also the FB Sunedison group is not helping). Just wanted to be honest since I previously was very positive with Suneq shareholders potential recovery and survival. Happy trading.... no longer holding and waiting. Out of SUNEQ.
Me too. I believe in the information the SUNEQ shareholders have collected so far. SUNEQ restructuring is basically done. The longer they wait, the better for SUNEQ shareholders.
I bought yesterday. I'm holding but not buying anymore. I have the shares I wanted and didn't like yesterday outcome.
Thanks. Yesterday was a disappointment( I was expecting the judge to push for the 10k,10Qs release at least). SUNEQ shareholders will continue the fight. The next MOR will show another profitable month. The yieldcos are not going to be sold for pennies( JP Morgan just raise their target for Terp over $13, today).
Yes I'm. I was wrong I admit it. The fight will continue. But this time I'm not going to buy anymore shares. Today was my last purchase. Just holding....
Thank you to the ones that sold their SUNEQ shares into the fear. I bought more shares. Court day is not over. Wait for his decision later.
Come on TP! Did you really expected something different from Parkhill?? We(SUNEQ shareholders) were expecting his response( very weak BTW). Get ready tomorrow in court his arguments are going to be destroyed. four pages of the same old information. Follow SUNEQ court documents...
Please TP keep talking! We want more shares! Thank you! Great job! I bought more today! Willing to take the risk! Holding and waiting.... remember to follow SUNEQ court documents....
This is a 1 Billion dollar deal! Add the other deals from the the hundreds of non debtors subsidiaries and we are talking about billions in deals in the next years. Hopefully the judge is finally having the clear picture like SUNEQ shareholders and the UCC. Let see what happen...
----------
The government will have to spend about $1.1 billion, or Tk 8,595 crore to pay the company.
However, PDB will purchase electricity from the project on a "No Electricity, No Payment" basis, meaning the project does not need to have any capacity payment guarantee.
SunEdison will invest about $300 million to implement the Teknaf project on a 75:25 debt-equity basis.
Official sources said the Power Division had advanced the SunEdison project under the Speedy Power and Energy Supply (Special Provision) Act to implement it expediently.
You can request to listen the hearing over the phone( Listen mode only). Legal representation will be there. I believe the judge will say something at the end( based on all the evidence submitted and previous hearing between UCC and debtors). Let see what happen...
More information on SUNEQ non debtors( out of BK like the other 1400+) subsidiary making business and creating value.
http://www.4-traders.com/SUNEDISON-INC-27471608/news/Sunedison-Deal-signed-with-SunEdison-to-set-up-200MW-solar-park-in-Teknaf-23676070/
SunEdison Energy Holding (Singapore) Private Ltd, a subsidiary of SunEdison, one of the largest American renewable energy firms, signed a contract with the government on Monday to set up a 200 MW solar park in Teknaf of Cox's Bazar on a build-own-operate (BOO) basis.
Southern Solar Power Limited, a special purpose company of SunEdison Energy Holding (Singapore) Private Ltd, will set up the solar park as independent power producer (IPP) in the next 18 months.
Power Development Board secretary Mina Masud Uzzaman and SunEdison South East Asia CEO Ismael Arias Guerrero signed the contract on behalf of their respective sides at a function at Biduyt Bhaban in the city.
Once the plant is installed, the PDB will buy electricity from the project at 17 US cents or Tk 13.26 per kilowatt hour (each unit) for 20 years.
Addressing the function, Stare Minister for Power and Energy Nasrul Hamid said the government plans to increase the solar power generation to 1000 MW by 2021.
He said as part of the plan, the government is developing huge land in Gaibandha and Mirrsharai areas for solar projects.
Abdur Rob, who represents the SunEdison in Bangladesh, said his company signed the contract complying with all conditions of the government.
He also informed that the company has already procured about 1000 acres of land for the project in Teknaf area of Cox's Bazar.
Sources also said SunEdison has tied up with two local companies-Midland Group and Youth Group to implement the project.
The government will have to spend about $1.1 billion, or Tk 8,595 crore to pay the company.
However, PDB will purchase electricity from the project on a "No Electricity, No Payment" basis, meaning the project does not need to have any capacity payment guarantee.
SunEdison will invest about $300 million to implement the Teknaf project on a 75:25 debt-equity basis.
Official sources said the Power Division had advanced the SunEdison project under the Speedy Power and Energy Supply (Special Provision) Act to implement it expediently.
The move for allowing IPP solar plants has been part of the government's plan to generate 24,000MW of electricity by 2021, the sources added.
Special emphasis was laid on power production from non-conventional sources. It aims to increase the total solar power production by 5 percent by 2015 (meaning 800MW), and 10 percent by 2020 (2,000MW). The total solar power production in Bangladesh has not crossed 200MW yet.
© Pakistan Press International, source Asianet-Pakistan
To be honest I'm happy to see that many SUNEQ traders selling their trades and moving to other stocks. I'm buying like others. Too many SUNEQ traders and very few real SUNEQ shareholders, no problem. Those selling are traders not willing to wait. There is no longer a real market for SUNEQ unless the judge rule and we get our OEC. I'm taking the risk. Suneq play is not for everybody. If they sell good for them. I'm buying like others. Happy trading... follow SUNEQ court documents.
Exactly! All the reliable information is available through the SUNEQ court documents. SUNEQ shareholders are fighting and helping others to obtain the information. Tomorrow is our big day. Terp and Glbl are not going to be sold for pennies. Suneq management will be forced to restructure around them. Holding and waiting...
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTIyNzcy&id2=0
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTIyNzc1&id2=0
Hidden assets!- Another SUNEQ non-debtors subsidiary( out of BK process) making business, creating value.
http://www.pv-tech.org/news/sunedison-subsidiary-signs-ppa-for-200mw-solar-plant-in-bangladesh
That's not true! SUNEQ shareholders have been fighting for months. Jan 12 is our day! Keep following SUNEQ court documents....
That sale is not going to happen. Brookfield is saving their.... with the lowball offer. They know what is coming. Jan 12. Holding and waiting...
Wrong! It only implies that SUNEQ traders sold their positions. By now you should know that many traders bought in anticipation of the upswing into Jan 12. When the move stopped at 0.13 they took profits, simple explanation. Here you will see less and less real SUNEQ shareholders, SUNEQ court documents will point you in the right direction. Happy trading, Jan 12, big day for SUNEQ shareholders! Holding and waiting....
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTIyMTI3&id2=0
Suneq request another extension to file their POR. They know shareholders will win this time. Also others are calling fraud!! In some assets sales. Please follow SUNEQ court documents...
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTIwNjcw&id2=0
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTE5NzAx&id2=0
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTIwMTc1&id2=0
November MOR!! Net income 38M!!
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTIwMDAw&id2=0
As projected in the previous forecast. SUNEQ was going to be profitable by the end of 2016!!! Equity of 5.9 Billion! Money from foreign subsidiaries is coming!! December MOR is going to look better!! Holding and waiting! OEC will be granted Jan 12!
Don't forget to give us the update when Suneq is over 0.13 or 0.15 today. Happy trading. Holding and waiting. Jan 12 is getting closer! OEC will be granted.
Yup, I bought more shares under 0.08. Happy with my position. Holding and waiting...
Your followers sold their Suneq position after you. Good trading job! At least you have been honest with your trading strategy. Happy Suneq trading. Holding and waiting for our OEC next week. Follow Suneq court documents
https://cases.primeclerk.com/sunedison/Home-DocketInfo
Agree, the good news is the 50+% haircut on the unsecured claim. Suned is willing to settle quickly but it has to be for a lot less. IMO we should see more of this type of deals with Vivint and the Yieldcos, probably a lot less which is equal to more equity left for shareholders. Suneq relentlessness to release their 10K and 10Qs only add more to the argument about this already successful reorganization and the hidden assets in the non-debtors subsidiaries( around 7 Billions in assets outside BK process). hopefully this time the judge give us our OEC. Jan 12 is around the corner. Holding and waiting...
SunEdison settles contract fight to help close $150 million sale
http://www.reuters.com/article/us-bankruptcy-sunedison-inc-idUSKBN14P00D
"In addition, SunEdison Semiconductor gets an administrative expense claim of nearly $2.7 million and a general unsecured claim non-priority claim of about $16.5 million, compared with the $40 million in unsecured claims it had asserted."
Exactly! WOW!! #2073!! Holding and waiting. Suneq shareholders fighting back. IMO we will have our OEC on Jan 12.
https://cases.primeclerk.com/sunedison/Home-DownloadPDF?id1=NTE2NDAz&id2=0
Thank you, happy holidays to you too.
You're not alone. Many old Suneq shareholders have been buying below 0.09 cents in order to avg. down. I bought more too. Holding and waiting. Less than 14 days for OEC decision. IMO, the judge have the evidence from many shareholders plus Sune management behavior. IMO the judge will grant the OEC at the end of the status conference. Let see who is right.
SunEdison Has Settlement Offer From TerraForm Power
12/24/2016
SunEdison Inc. Chief Executive John S. Dubel said Thursday that the renewable-energy company has received a settlement offer from spinoff TerraForm Power Inc., which claims its corporate parent caused it more than $1 billion in damages.
Mr. Dubel disclosed the TerraForm Power offer at a hearing in U.S. Bankruptcy Court in New York over a request by SunEdison’s creditors to sue the TerraForm Power and its sister company, TerraForm Global Inc., on the company’s behalf.
Specific terms of the settlement weren’t discussed. However, the offer would resolve SunEdison’s potential claims against TerraForm Power for no money, Mr. Dubel confirmed. SunEdison hasn’t yet made a counteroffer, he said.
SunEdison has been looking to sell its stakes in TerraForm Power and TerraForm Global, valuable assets that could be monetized to help cover company debts. The TerraForm businesses, publicly traded yieldcos established by SunEdison that own renewable-energy projects, have asserted that SunEdison has collectively caused the business in excess of $3 billion in damage.
A lawyer for SunEdison’s unsecured creditors said Thursday that creditors are being cut from sale negotiations and that the company is angling to drop its own lucrative claims against the TerraForm businesses at the behest of more senior lenders.
Mr. Dubel said he is pursuing a transaction involving the TerraForm companies that would maximize value for SunEdison and its various constituents, including unsecured creditors. A financial adviser for SunEdison from Rothschild Inc. later testified that the company is currently unsure whether bankruptcy will yield a recovery for unsecured creditors.
“We would have to look at the whole picture,” Mr. Dubel testified. “My fiduciary duty is to the estate.”
Mr. Dubel became SunEdison’s chief restructuring officer in April after the company had already filed for bankruptcy protection. He was appointed CEO in June following the resignation of former Chief Executive Ahmad Chatila, who steered the business during its debt-fueled expansion.
When SunEdison filed for bankruptcy, its finances and its dealings with the TerraForm companies were under investigation by federal authorities. Once SunEdison units, the TerraForm companies were spun out as separate businesses, designed to raise money from outside investors to buy wind and solar power projects developed by SunEdison.
They helped fuel SunEdison’s boom but suffered from the connection to their former parent once it ran into trouble. Shared accounting systems, for example, meant the TerraForm companies were no more able than SunEdison to file audited financial reports with the Securities and Exchange Commission.
SunEdison and TerraForm companies were already involved in litigation when SunEdison filed for chapter 11 protection. The TerraForm companies aren’t under bankruptcy-court protection.
Write to Jonathan Randles at Jonathan.Randles@wsj.com
(END) Dow Jones Newswires
December 23, 2016 15:35 ET (20:35 GMT)
http://www.morningstar.com/advisor/t/117894271/sunedison-has-settlement-offer-from-terraform-power.htm?&single=true