This-links to an iHub post. What-is-the-date-of "the closing"?
Is THIS what you are regarding as the "closing" date?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K (excerpts)
SOUPMAN, INC.
By: Jamieson Karson
Title: CEO
Dated: September 12, 2017
Item 2.01. Completion of Acquisition or Disposition of Assets.
"The closing of the Asset Sale contemplated under the Asset Purchase Agreement occurred on September 8, 2017. An auction was conducted on August 28, 2017 pursuant to the bid procedures approved by the Court and the sale was approved by order of the Court entered September 7, 2017. The Debtors received total consideration of approximately $6.7 million.
The proceeds of the Asset Sale were used in part to pay in full the $1.7 million outstanding under the Company’s debtor-in-possession financing facility (the “DIP Financing”). As a result, the DIP Financing was terminated upon the closing of the Asset Sale and concurrently therewith the lenders thereunder released all liens and security interests against the Debtors that were granted in connection with the DIP Financing.
The Company is evaluating its options with respect to the sale of the remaining immaterial assets and wind-down of the Company."
It sounds to me as though the Protection from Creditors function of Chapter 11 is no longer necessary and therefore the BK will be rescinded and the "Q" removed.
But I don't know if the "closing date" referred to in the paragraph stating a report is due no later than 10 days after closing date, is the closing date of this asset purchase agreement or another closing date; say, of the entire BK proceedings e.g. "Discharge"
AI
