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I have been trough too many of these to be this optimistic. Even if they struck a $5B well they would probably still BK it. This looks just like the setup from a123 to me.
10.80? Not in a million years. sorry we but we will be hosed here.
Its a gamble doesnt really have much to do with peeling the onion back. People are finding short term resistance and support and simply trading those levels. I would not get to wrapped up in the longevity or business plan of this company guys. Just trade it
Dont know
Good call
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
In re:
A123 Systems, Inc., et al.,
Debtors.
Chapter 11
Case No. 12-12859 (KJC)
Jointly Administered
NOTICE OF HEARING TO CONSIDER APPROVAL OF, AND
DEADLINE FOR OBJECTING TO, DEBTORS’ PROPOSED DISCLOSURE STATEMENT
TO ALL PARTIES IN INTEREST:
PLEASE TAKE NOTICE THAT:
1. A123 Systems, Inc. and certain of its subsidiaries in the above-captioned case (the “Debtors”) have filed with the
United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) a proposed Disclosure Statement
with Respect to Joint Plan of Liquidation of A123 Systems, Inc., et al. (as it may be amended or modified, the “Disclosure
Statement”), along with an accompanying proposed Joint Plan of Liquidation of A123 Systems, Inc., et al. (as it may be
amended or modified, the “Plan”).
2. The names of the Debtors and their respective addresses, case numbers, and federal tax identification numbers
(EINs) are set forth in the following chart.
DEBTOR ADDRESS CASE NO. EIN
A123 Systems, Inc. 200 West Street, Suite 300, Waltham, MA 02451 12-12859 04-3583876
A123 Securities Corporation 200 West Street, Suite 300, Waltham, MA 02451 12-12860 42-1655388
Grid Storage Holdings LLC 200 West Street, Suite 300, Waltham, MA 02451 12-12861 N/A
3. A hearing (the “Disclosure Statement Hearing”) will be held before the Honorable Kevin J. Carey, United States
Bankruptcy Judge, at the Bankruptcy Court, 824 Market Street, 6th Floor, Wilmington, Delaware 19801, on March 13,
2013 at 10:00 a.m. (Eastern Time) to consider the entry of an order, among other things, finding that the Disclosure
Statement contains “adequate information” within the meaning of 11 U.S.C. § 1125, approving the Disclosure Statement
and establishing procedures for the solicitation and tabulation of votes to accept or reject the Plan. The Disclosure
Statement may be amended or modified at or prior to the Disclosure Statement Hearing, and the Disclosure Statement
Hearing may be adjourned from time to time without further notice, except for the announcement of the adjourned date(s)
at the Disclosure Statement Hearing or any continued hearing(s).
4. Objections, if any, to the approval of the Disclosure Statement must be in writing and must: (a) state the name and
address of the objector or entity proposing a modification to the Disclosure Statement and the amount of its claim or
nature of its interest in the Debtors’ chapter 11 cases; (b) specify the basis and nature of any objection and set forth the
proposed modification to the Disclosure Statement, together with suggested language; (c) be filed with the Clerk’s Office,
824 N. Market Street, 3rd Floor, Wilmington, Delaware 19801 together with proof of service, on or before 5:00 p.m.
(Eastern Time) on March 6, 2013 (the “Objection Deadline”); and (d) be served, so as to be actually received on or
before the Objection Deadline, upon (i) the Office of the United States Trustee for the District of Delaware, attn: Mark
Kenney, J. Caleb Boggs Federal Building, 844 N. King Street, Suite 2207, Lock Box 35, Wilmington, Delaware 19801
(ii) Latham & Watkins LLP, attn: Annemarie Reilly, 885 Third Ave, New York, New York 10022, (iii) Richards, Layton
& Finger, P.A., attn: Mark D. Collins, 920 N. King Street, Wilmington, Delaware 19801, (iv) Brown Rudnick LLP, attn.:
William Baldiga, Seven Times Square, New York, New York 10036, (v) Saul Ewing LLP, attn.: Mark Minuti, 222
Delaware Avenue, Suite 1200, P.O. Box 1266, Wilmington, Delaware 19899, and (vi) such other parties as the
Bankruptcy Court may order.
Docket No. 968
Filed: 2/6/13
2
5. If any objection to the Disclosure Statement is not filed and served as prescribed herein, the objecting party may
be barred from objecting to the adequacy of the Disclosure Statement and may not be heard at the Disclosure Statement
Hearing.
6. Copies of the Disclosure Statement and Plan may be obtained by parties in interest free of charge on Logan &
Company, Inc.’s dedicated webpage related to these cases, available via http://www.loganandco.com, or by contacting
Logan & Company, Inc. in writing at 546 Valley Road, Upper Montclair, New Jersey 07043, by telephone at (973) 509-
3190, or by e-mail at a123@loganandco.com. Copies of the Disclosure Statement and Plan are also available for
inspection during regular business hours at the Clerk’s Office, 824 N. Market Street, 3rd Floor, Wilmington, Delaware
19801. In addition, copies of the Disclosure Statement and Plan may be viewed at the Court’s website
(http://www.deb.uscourts.gov) by following the directions for accessing the ECF system on such website.
7. This notice is not a solicitation of votes to accept or reject the Plan. Votes on the Plan may not be solicited unless
and until the proposed Disclosure Statement is approved by an order of the Bankruptcy Court. Following approval of the
Disclosure Statement by the Bankruptcy Court, holders of claims against, or interests in, the Debtors will receive a copy
of the Disclosure Statement, the Plan and various documents related thereto, or alternatively an approved summary or
other notice of the foregoing, unless otherwise ordered by the Bankruptcy Court.
The reason there is no volume is because there is no company and worthless stock.
Why this continues to be traded is beyond me. But it is funnier than hell to watch this board!
Dont worry Prof we believe you...
gold miners or gold and gold funds?
The value of Jag is only speculation of buyout.
Its on their website...
We have no employees other than our officers: Matthew Lambiase, President and Chief Executive Officer; Christian J. Woschenko , Head of Investments; William B. Dyer, Head of Underwriting and A. Alexandra Denahan, Chief Financial Officer. Our officers do not receive cash compensation from us. Each of our officers is also an employee at FIDAC.
I would say more of a dream world than the matrix. At least in the matrix there were logically programmed algorithms to dictate rational human behavior.
You are right Opti, this board has turned into a parody of one flew the cuckoo's nest.
I hope people dont take this board seriously. You have guys posting just bought another 200k and the next day write sure glad I dont own a123. or Obama will block and this will shoot to $1 share. or Wanx will keep the shareholders whole.
Craziness.
Still holding?
If it goes up to $3 / share I am selling.
This wasn't you?
Post # of 19909
Im holding what do I have to lose on this trade? Ive already lost enough for a few years of capital losses. LOL patience may pay break even..??
Why are you adding 110K prof. As I recall you and many of us learned our "lesson" when we got wiped out last time. Didnt you lose 15K or so last month? And why would you add it now as apposed to last week when it was a penny? I am starting to question your authenticity.
I dont trust them either opti. Something stinks. I hope it continues to go up but there is definitely some insider trading here. Goes from a few million to ten of millions of shares starting last Tuesday.
The "only" news release made available to the public on the 15th was this: http://www.washingtontimes.com/news/2013/jan/15/lobbyists-work-both-sides-on-a123-sale/
I dont have much aone left but this certainly makes it interesting.
This is has me very suspicious that something is up. 35M shares changing hands today?
I dumped a bunch on DEC 31st so I havent watched too closely lately.
Question, assuming CFIUS allows this to go through why would the new owners keep the company public and shares active? I thought they purchased the company in its entirety except for a small govt division. In which case the company would be owned by Wanx which is obviously a privately owned entity.
I know there is an argument made that they (wanx) currently own a large position of a123 equities. Because of this position they wont cancel the shares because they would lose millions of dollars / shares... There is apparently a lot of info out there I havent researched and maybe am not privy to.
I am guessing that retail guys are betting on the deal wont go through and maybe be bought by a publically traded company and have their shares converted?...
It looks like majority of trading actively is being done by HFTC's (I cant imagine anybody would be buying a hundred or even a thousand shares at a time, its just not worth it.) trying to squeeze every fraction of a cent until it eventually goes away. I guess if you can program your HFTC do make a penny or two a million times a day for a few months why not?
So JCI get 300M and A123 sells for 300M?...
That seems quite interesting
He also lives in a suburb not far from me in Chicago....
Since when does uncle sam care about a raw deal for us the simpleton taxpayer? They are more concerned with gun control, food stamps, raising taxes, giving condoms to elementary children, etc.. to give a flying f*&$ about people that actually pay taxes. If you havent noticed most in govt pander to either the poor who dont pay taxes but want free stuff or the very rich who pay very little taxes trough loopholes, charitable funds and off-shore accounts.
The govt cares less about a couple 100M dollars. Do you know they spend +7.2B (thats billion) per DAY?!...
Dude the sale is a done deal. Batteries dont really pose a national security threat.
If you own this stock (like me) my suggestion is if you think it is going to go up, sell by the 31st take your losses write it off and buy back at .02 / share.
Really?... read below
By DENNIS BLAIR | 12/20/12 9:40 PM EST
As the director of national intelligence, I had a seat at the policy table as our country reviewed prospective Chinese investment. Driving to modernize its economy and its armed forces, China has employed aggressive economic and military espionage against American government agencies and companies. The United States must defend itself against these actions. I strongly opposed entry of the Chinese telecommunications company Huawei into the U.S. market. Our telecommunications backbone is a national strategic asset that needs to be made as resilient as possible against both criminal and foreign exploitation.
However, it is in the interest of the United States to encourage international trade and investment with China and other countries when it does not affect our national security interests. They create prosperity and jobs in this country and abroad. To strike the correct balance between the objectives of international trade and investment and national security, we have established the Committee on Foreign Investment in the U.S. Informed by classified threat reports produced by the intelligence community, CFIUS evaluates the national security risks of foreign investments. The process is timely and, in my experience, conducted thoroughly and competently by the appropriate U.S. government departments and agencies. The CFIUS process separates facts and expert judgments from generalized and often overblown fears of foreign control of American companies.
The current bid by Wanxiang America, a private Chinese company, for the bankrupt American battery manufacturing company A123 Systems has aroused some public controversy. A bankruptcy court recently approved the offer by Wanxiang America to acquire the business assets of A123. In approving the bid, the court determined that, after a fair and open auction, Wanxiang had submitted the highest and best bid for A123’s assets. The sale has clear benefits for A123’s employees, customers and creditors.
Some members of Congress and private interest groups have opposed the sale to Wanxiang. At the request of Wanxiang, I have reviewed the case and strongly believe that the sale should go forward, subject to completion of CFIUS review. There are many sensitive technologies that the United States should protect. The manufacture of lithium ion batteries is not one of them. It is a widely available technology; the machines in the A123 factory in Michigan are from South Korea and Japan. Wanxiang is a family-owned business — unlike many state-owned enterprises in China, it is not controlled by the Chinese government. It has operated a U.S. business since 1994 out of headquarters in Illinois employing more than 3,500 Americans in this country and has reinvested every penny that it has made in the United States into its U.S. operations. The company has already saved more than 3,000 American jobs during the recession by buying distressed factories. This is the type of foreign investor that we should want — a company with a commitment to invest in and sustain jobs in the United States.
The Wanxiang/A123 deal will provide a needed lifeline to a struggling American company and its employees, saving thousands of employees’ jobs and the facilities in which they work, and allow them to continue American innovation in an industry dominated by Japanese and South Korean conglomerates. The terms of the agreement also wisely solve the government’s national security concerns about the transaction: Wanxiang excluded A123’s U.S. government contracts and the assets from its purchase agreement, and those assets are being separately sold to a trusted U.S. company, Navitas Systems.
The relationship between the United States and China will have elements of both competition and cooperation in the future. We need to establish and enforce clear guidelines that establish limits on Chinese activities when they are to our detriment and that encourage cooperation to our mutual benefit. The Wanxiang/A123 deal is a win-win transaction that poses no danger and provides immediate benefits for Americans.
Dennis Blair is the former director of national intelligence and a retired Navy admiral. His last military post was commander in chief, United States Pacific Command, the highest-ranking officer in the Asia-Pacific region.
A123 was / is a publicly traded company, when the acquisition goes through all shares will be cancelled.
Wanx purchased the company with the intention of owning it. It will be a privately owned corporation. Why would they allow the old ownership (us the shareholders) to "own" a part of their company or have a say in what they do?
There was never a deal for 500M.
It was for 450M for 80% allowing them to utilize the 120M grant money left. So the "deal" was for $330M.
Wanxiang excluded from the purchase A123's U.S. government and military contracts. The idea behind the exclusion was to blunt concerns raised by politicians and a military group that sensitive technology was slipping away from the U.S. and into foreign hands.
Another company, Navitas Systems, a spinoff of MicroSun Technologies, bought those assets, Gassenheimer said.
He said the bidding was close but ultimately Johnson Controls, in its offer, said it would be forced to cut jobs at the Livonia, Mich., factory that Massachusetts-based A123 operates. Half of the funding for that plant came from government grants. A123 also has facilities in China and Korea.
Wanxiang said it would not lay off workers, and Ni previously told the Tribune that his company would nurture A123, absorbing losses for five or 10 years if necessary.
sorry but no it wasnt. It was .77 when offered, it didnt drop into the teens (except a few trades for .19 one day) until they announced ch. 11 filing.
Response:
Some interesting questions:
What happened between Wanxiang's offer in august and AONE's Chapter 11 filing in October? Wanxiang agreed to pay $465 million for a controlling stake in A123. But the deal ran into government opposition due to the investment in the company by the Energy Department and the company's contracts with the U.S. Defense Department.
Why did AONE file Chapter 11 when they got a great offer to survive? Because there are major battery defects which they are aware of that will lead to injury and possible death.??
Why is no one talking about this affair in the media and online? Because its controlled by liberal left wing talking heads.
Why don't we hear and see AONE's management doing their best to create as much as value for its shareholders? Because they didnt care about shareholders. Ever see the honey badger video?
Do you think it's legal and logic that the Committee on Foreign Investment in the United States will approve this worst case scenario knowing that Wanxiang did a much better offer 3 months ago? They dont care about the monetary value of the transaction only the potential security risk.
The first offer was 450M for 80% and they (wanx owned A123) would still be able to use the govt grant remaining which 120M was left. Wanx already loaned them 50M DIP.
The new deal was 256M which comes close to 450M - 256M - 120M - 50M (plus interest) gets you very close to the offer of 450M for 80% The 20% is / was the "govt sensitive" division they knew they couldn't manage anyway.
It was trading in the teens when first offered.
Like anything else A123 was a gamble (as is life) some had the balls to walk up to the table and throw it down and others just watched from behind the ropes. I choose to live my life in the game, for me its better to risk a little money and play then to lose a bunch of time just watching from the audience.
I will never understand why some of the uninvested wasted time on the AONE message board. Yeah, some of you were right this ship was going down. But I dont really give a shit because it was fun while it lasted.
If the stock would have opened today at $5.00 or $0.00 I would be in the exact same place.
Burn rate can be reduced dramatically and quickly based on creating synergies with current operations and competent management.
Assets are of course are going to be bought at a discount. A very large discount. The buildings and real estate will be liquidated if owned / leases will be terminated. Employees will be retained if they are non-union, if they are union those positions will be eliminated.
So whats left? What are they actually buying? They are purchasing some patents (even though the technology is nothing earth-shattering), a transferable govt grant, a huge tax write off, maybe some contracts. They could hire the engineers that are not going to the "new A123" 24M, but most from what I hear are already working at 24M. I really dont think JCI, NEC or Siemens wants any of the A123 assets.
I was thinking about the below last night over a few beers and it kind of made me laugh. We wont sell to China (for security reasons)but we have never had a military conflict with them. We buy most of our shit from them and they dont have an automotive industry that competes with US automakers. However we will sell to Germany and Japan who we have had large scale wars with, dropped nukes on, and compete / beat us in automotive technology and competitiveness.
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
-----------------------------------------------------------------
In re:
A123 SYSTEMS, INC., et al.,
Debtors.
-----------------------------------------------------------------
x
:
:
:
:
:
x
Chapter 11
Case No. 12-12859 (KJC)
Jointly Administered
NOTICE OF DEADLINES AND BAR DATES
FOR FILING PROOFS OF CLAIM AGAINST THE DEBTORS
PLEASE TAKE NOTICE THAT:
On October 16, 2012, the debtors and debtors in possession in the above-captioned jointly administered case
(each a “Debtor” and collectively, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of Title 11 of the
United States Code, 11 U.S.C. §§ 101-1532 (the “Bankruptcy Code”), in the United States Bankruptcy Court for the
District of Delaware (the “Bankruptcy Court”). The names of the Debtors and their respective addresses, case numbers,
and federal tax identification numbers are set forth in the chart below.
DEBTOR ADDRESS CASE NO. EIN #
A123 Systems, Inc. 200 West Street, Waltham, MA 02451 12-12859 04-3583876
A123 Securities Corporation 200 West Street, Waltham, MA 02451 12-12860 42-1655388
Grid Storage Holdings LLC 200 West Street, Waltham, MA 02451 12-12861 N/A
The Bankruptcy Court has entered an order (the “Bar Date Order”) establishing deadlines to file proofs of claim
for all claims against the Debtors that arose prior to the Petition Date of October 16, 2012, excluding claims pursuant to
Bankruptcy Code Section 503(b)(9) (a “503(b)(9) Claim”).
As to 503(b)(9) Claims against the Debtors, the Bar Date Order establishes a deadline to file requests for
payment with respect to such claims. If you believe you hold a 503(b)(9) Claim, information as to the deadline and
procedure for asserting such claim is available at www.loganandco.com, along with a 503(b)(9) Request for Payment
form that you are invited to use.
You should not file a proof of claim if you do not have a claim against the Debtors. The fact that you
received this Notice does not necessarily mean that you have a claim or that either the Debtors or the Bankruptcy
Court believe that you have a claim.
Pursuant to the terms of the Bar Date Order, and except as otherwise provided herein, each person or entity
(including, without limitation, each individual, partnership, joint venture, limited liability company, corporation, estate,
trust, or governmental unit) that holds or asserts a claim against any of the Debtors must file a proof of claim with original
signature, substantially conforming to the proof of claim form included herewith (a “Proof of Claim”), so that it is
actually received by Logan & Company, Inc. (“Logan”), the court-approved claims and noticing agent in these chapter 11
cases (the “Claims and Noticing Agent”), on or before the applicable deadline, as set forth below. Proofs of Claim sent
by first-class mail, overnight delivery or via hand-delivery must be sent/delivered to the following address:
A123 Systems, Inc.
Claims Docketing Department
c/o Logan & Company, Inc.
546 Valley Road,
Upper Montclair, NJ 07043
To be properly filed, a Proof of Claim must state and be filed against the specific Debtor against which the
creditor holds or asserts a claim. For example, if a creditor holds or asserts a claim against A123 Systems, Inc., the Proof
of Claim must specify A123 Systems, Inc. If the creditor fails to specify the Debtor against which its claim is asserted,
the claim shall be deemed to be asserted against A123 Systems, Inc. and the creditor shall have no rights against any other
of the Debtors. If a creditor wishes to assert a claim against more than one Debtor, separate Proof of Claim forms must be
filed against each applicable Debtor and each Proof of Claim must specify the Debtor against which the claim is asserted.
The names of the Debtors are set forth in the chart above.
In addition to stating the Debtor against which it is filed, a proper Proof of Claim must (a) set forth with
specificity the legal and factual basis for the alleged claim; (b) include supporting documentation (if voluminous, you may
attach a summary) or an explanation as to why such documentation is not available; (c) be denominated in lawful currency
of the United States as of the Petition Date; and (d) be signed by the creditor or by an authorized agent of the creditor.
Please note that the address included on the Proof of Claim, or the address separately provided by the creditor on
the Proof of Claim, will be used for purposes of service of any objection to the asserted claim, and such service will be
sufficient under Bankruptcy Rule 7004.
Proofs of Claim will be deemed timely filed only if actually received by Logan on or before the deadline
associated with such claim (the “Bar Date”). Further, Logan will not accept Proofs of Claim sent by facsimile,
telecopy, e-mail, or other electronic submission, and such claims will not be deemed to be properly filed claims.
General Bar Date. Except as otherwise provided herein, each person or entity, holding or asserting a claim
against one or more of the Debtors that arose prior to the Petition Date (excluding a 503(b)(9) Claim) must file a Proof of
Claim so that it is actually received by Logan on or before January 14, 2013 at 5:00 p.m. (Eastern Time) (the “General
Bar Date”).
Governmental Unit Bar Date. Each governmental unit holding or asserting a claim against one or more of the
Debtors that arose prior to the Petition Date must file a Proof of Claim so that it is actually received by Logan on or before
April 15, 2013 at 5:00 p.m. (Eastern Time).
Amended Schedules Bar Date. If, on or after the date on which the Debtors serve this Notice, the Debtors
amend their schedules of liabilities (the “Schedules”) (i) to reduce the undisputed, noncontingent, and liquidated amount
of a scheduled claim, (ii) to change the nature or characterization of a scheduled claim or the Debtor against whom the
claim is scheduled, or (iii) to add a new claim to the Schedules, the affected creditor, if it disagrees with the amendment or
supplement and has not previously filed a Proof of Claim with respect to such claim, is required to file a Proof of Claim in
respect of the amended or new scheduled claim so that the Proof of Claim is actually received by Logan on or before the
later of (i) the General Bar Date (for claims of persons or entities other than Governmental Units), (ii) the Governmental
Bar Date (for claims of Governmental Units), or (iii) 5:00 p.m. (Eastern Time) on the date that is twenty-five (25) days
after service of a notice on an affected creditor of an amendment or supplement to the Schedules.
Rejection Bar Date. A Proof of Claim relating to a Debtor’s rejection of an executory contract or unexpired
lease pursuant to a Court order entered prior to the applicable Debtor’s plan of reorganization or liquidation must be filed
so that it is actually received by Logan on or before the later of (i) the General Bar Date or (ii) twenty-five (25) days after
the date on which rejection of such executory contract or unexpired lease becomes effective. Notwithstanding the
foregoing, if you are a party to an executory contract or unexpired lease and you wish to assert a claim on account of
unpaid amounts accrued and outstanding as of October 16, 2012 pursuant to that executory contract or unexpired lease
(other than a rejection damages claim), you must file a Proof of Claim for such amounts on or before the General Bar Date
unless an exception identified below applies.
For purposes of the Bar Date Order and this Notice, the term “claim” means (i) any right to payment, whether or
not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed,
undisputed, legal, equitable, secured, or unsecured; or (ii) any right to an equitable remedy for breach of performance if
such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment,
fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured as of the Petition Date.
The following persons and entities need NOT file a Proof of Claim:
(a) any person or entity that has already filed a Proof of Claim with either the Claims and Noticing Agent or
the Clerk of the Court for the United States Bankruptcy Court for the District of Delaware, which
substantially conforms to the Proof of Claim form or Official Form 10;
(b) any person or entity (i) whose claim is listed in the Schedules or any amendments thereto and (ii) whose
claim is not described therein as “disputed,” “contingent” or “unliquidated” and (iii) who does not dispute
the amount, nature and priority of the claim as set forth in the Schedules (including that the claim is an
obligation of the specific Debtor against which the claim is listed in the Schedules); provided, however,
that if any such properly scheduled claim is a 503(b)(9) Claim, a 503(b)(9) Request for Payment must
nevertheless be filed;
(c) a holder of a claim that has previously been allowed by order of the Bankruptcy Court;
(d) any person or entity whose claim has been paid in full by any of the Debtors, unless such payment was
made pursuant to a “first day” payment program that requires the filing of a proof of claim
notwithstanding payment;
(e) the Debtors or any affiliates of the Debtors; or
(f) a holder of a claim allowable under Bankruptcy Code Sections 503(b) and 507(a)(2) as an expense of
administration of the Debtors’ estates; provided, however, that any person or entity that has a 503(b)(9)
Claim must file a 503(b)(9) Request for Payment on or before the 503(b)(9) Bar Date.
If you are a holder of a debt security issued by the Debtors under an indenture, you may rely on the indenture
trustee to file a Proof of Claim for the principal and interest due on such debt security and you need not file an individual
Proof of Claim solely to assert your holding or ownership of a debt security. However, if you assert any other type of
claim against the Debtors, or are alleging damages or asserting causes of action based upon or arising from the debt
security, a Proof of Claim must be filed on or prior to the General Bar Date pursuant to the procedures set forth in this
Notice, unless an exception identified above applies.
If you are a holder of an equity interest in the Debtors, you need not file a proof of interest with respect to the
ownership of such equity interest at this time. However, if you assert a claim against the Debtors, including a claim
relating to such equity interest or the purchase or sale of such interest, a Proof of Claim must be filed on or prior to the
General Bar Date pursuant to the procedures set forth in this Notice, unless an exception identified above applies. Please
note that a Proof of Claim is not included with the mailing of this Notice to you. You may obtain a Proof of Claim form
from the Claims and Noticing Agent as provided below.
Any person or entity (including, without limitation, any individual, partnership, joint venture, corporation, limited
liability company, estate, trust or governmental unit) that is required to file a timely Proof of Claim in the form and
manner specified by the Bar Date Order and this Notice, and that fails to do so on or before the Bar Date associated with
such claim (or other applicable date as may be fixed by the Court), (i) shall not, with respect to such claim, be treated as a
creditor of the Debtors for the purposes of voting upon any plan in these cases and (ii) shall not receive or be entitled to
receive any payment or distribution of property from the Debtors or their successors or assigns with respect to such claim.
The Debtors reserve the right to (i) dispute, or to assert offsets or defenses against, any claim filed or any claim
listed or reflected in the Schedules as to nature, amount, liability, classification, or otherwise; and (ii) subsequently
designate any claim as disputed, contingent, or unliquidated. Nothing contained in this Notice shall preclude the Debtors
from objecting to any filed claim on any grounds.
Acts or omissions of the Debtors, if any, that occurred prior to the Petition Date, including acts or omissions
related to any indemnity agreements, guarantees, goods sold, or services provided to or rendered by the Debtors, may give
rise to claims against the Debtors notwithstanding the fact that such claims (or any injuries on which they are based) may
be contingent or may not have matured or become fixed or liquidated prior to the Petition Date. Therefore, any person or
entity that holds or asserts a claim or a potential claim against the Debtors, no matter how remote or contingent, must file
a Proof of Claim on or before the applicable Bar Date.
You may be listed as the holder of a claim against one or more of the Debtors in the Debtors’ Schedules of
Liabilities (collectively, the “Schedules”). To determine if and how you are listed on the Schedules, please refer to the
descriptions set forth in the upper right hand corner on the enclosed Proof of Claim form(s) regarding the Debtor, nature,
amount and status of your claim(s). Any amount set forth in such corner will reflect the Debtor’s books and records for
amounts owed as of the Petition Date or the amount remaining after applying a credit for any payments made pursuant to
order of the Bankruptcy Court between the Petition Date and the date of the Schedules. If there are no such descriptions,
you are not listed on the Schedules. If the Debtors believe that you hold claims against more than one Debtor, you will
receive multiple Proof of Claim forms, each of which will reflect the nature and amount of your claim against one Debtor,
as listed in the Schedules.
Copies of the Debtors’ Schedules are available: (i) free of charge from the Claims and Noticing Agent’s website
at http://www.loganandco.com., and/or (ii) for a fee at the Bankruptcy Court’s website at http://www.deb.uscourts.gov, by
following the directions for accessing the ECF system on such website. Copies of the Schedules may also be examined
between the hours of 9:00 a.m. and 4:30 p.m., Monday through Friday, at the Office of the Clerk of the Bankruptcy Court,
824 Market Street North, 3rd Floor, Wilmington, Delaware 19801.
If you rely on the Debtors’ Schedules, it is your responsibility to determine that the claim is accurately listed in
the Schedules; however you may rely on the enclosed Proof of Claim form if it lists your claim as scheduled and specifies
whether the claim is disputed, contingent or unliquidated.
As set forth above, if you agree with the nature, amount and status of your claim as listed in the Debtors’
Schedules, and if you do not dispute that your claim is only against the specified Debtor, and if your claim is not
described as “disputed”, “contingent”, or “unliquidated”, you need not file a Proof of Claim. Otherwise, if you decide to
file a Proof of Claim, you must do so before the applicable Bar Date in accordance with the procedures set forth in this
Notice. Please note, however, that the proper listing of your claim in the Schedules is not a substitute for filing a
503(b)(9) Request for Payment to assert a 503(b)(9) Claim.
Additional Proof of Claim forms may be obtained at http://www.uscourts.gov/bkforms or by contacting the
Claims and Noticing Agent by phone at (973) 509-3190 or toll-free (from within the United States) at (800) 224-7654, by
email to A123@loganandco.com, or by visiting http://www.loganandco.com.
Questions concerning the contents of this Bar Date Notice should be directed to the Claims and Noticing Agent
by phone at (973) 509-3190 or toll-free (from within the United States) at (800) 224-7654, by email to
A123@loganandco.com. Please note that Logan’s staff is not permitted to give legal advice. You should consult your
own attorney for assistance regarding any other inquiries, such as questions concerning whether you should file a
Proof of Claim or how to complete or file a Proof of Claim.
Dated: November 29, 2012
Wilmington, Delaware
BY ORDER OF THIS COURT
Mark D. Collins
Michael J. Merchant
Drew G. Sloan
Amanda R. Steele
RICHARDS, LAYTON & FINGER,
P.A.
920 N. King Street
Wilmington, Delaware 19801
D. J. Baker
Rosalie Walker Gray
Adam S. Ravin
Annemarie V. Reilly
LATHAM & WATKINS LLP
885 Third Avenue
New York, New York 10022-4834
Caroline A. Reckler
Matthew L. Warren
Alicia D. Davis
LATHAM & WATKINS LLP
233 S. Wacker Drive, Suite 5800
Chicago, Illinois 60606
Counsel to the Debtors and Debtors in Possession
My guess is a bid or bids totaling 682M.
I am holding but will probably get f'd.
Baron Rothschild, is credited with saying that "The time to buy is when there's blood in the streets." The original quote is believed to be "Buy when there's blood in the streets, even if the blood is your own."
Warren Buffett said, "You pay a very high price in the stock market for a cheery consensus." In other words, if everyone agrees with your investment decision, then it's probably not a good one. He also said "Its not fair that I only get taxed 15%."
I say, "when you make deals with the devil dont expect miracles".
That contract is most likely now null and void.
Anaheim-based electric vehicle developer Fisker Automotive is seeking a strategic partner, as it looks to work its way out of its recent troubles, according to a report this week. In an interview with TheDetroitBureau, which covers the automotive industry, CEO Henrik Fisker said that Fisker is "actively engaged in conversations with potential strategic partners." Fisker Automotive had has a far-from-smooth launch, with battery recalls and issues, less-than-stellar reviews on its Fisker Karma, and most recently, a loss of a significant number of cars to Hurricane Sandy.
For its part, the Obama administration has filed a brief with the bankruptcy court saying A123 cannot be sold without the government’s approval because of the taxpayer grant. What makes this strange is any purchase by the Chinese must be approved by Treasury’s CFIUS, the Committee on Foreign Investment in the United States, anyway. Is Team Obama worried CFIUS will approve the sale and is hoping to stop the transaction in another manner?
“…the terms of the sale must include its right to demand compensation for the sale of assets such as equipment or property that were financed with the clean energy grant,” Reuters reported.