Cdex, Inc. (fka CDEX)

[Crow3]

JUST GOT THIS ONE FROM ARLOCO...presented verbatim..

UNITED STATES BANKRUPTCY COURT
Minute Entry
FOR THE DISTRICT OF ARIZONA
Matters:
JAMES M. MARLAR
Reporter / ECR: CHRISTINA JOHNSON
Courtroom Clerk: LUPE MARTINEZ
Bankruptcy Judge:
Date / Time / Room:
Case Number: 4:12-BK-02402-JMM Chapter: 11
Debtor: CDEX INC.
Hearing Information:
FRIDAY, AUGUST 24, 2012 11:00 AM COURTROOM 206
0.00
1) CONFIRMATION OF DEBTOR'S PLAN
R / M #: 98 / 0
2) CONTINUED HEARING ON DEBTOR'S MOTION FOR ORDER ALLOWING DEBTOR TO UTILIZE FUNDS IN
ESCROW ACCOUNT FOR ORDINARY COURSE OF BUSINESS OPERATIONS (CONT. FROM 7/16/12)
R / M #: 84 / 0
ERIC SLOCUM SPARKS, ATTORNEY FOR CDEX INC.
FRANK DRUMMOND, ATTORNEY FOR NANCY WOLF, Appearing by Telephone
SARAH MOYED, ATTORNEY FOR SEC, Appearing by Telephone
JOSEPH MOTTA, ATTORNEY FOR PEMCO LLC., Appearing by Telephone
JEFF SKLAR, ATTORNEY FOR GEMINI MASTER FUND, LTD., Appearing by Video
JOSEPH WATSON, ATTORNEY FOR RYLES, Appearing by Video
LARRY WATSON, ATTORNEY FOR THE U.S. TRUSTEE
MARY O'HARA, SPECIAL COUNSEL FOR DEBTOR RE SEC ISSUES, Appearing by Telephone
Appearances:
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UNITED STATES BANKRUPTCY COURT
Minute Entry
FOR THE DISTRICT OF ARIZONA
(continue)... 4:12-BK-02402-JMM FRIDAY, AUGUST 24, 2012 11:00 AM
Proceedings:
ITEM 1: CONFIRMATION OF DEBTOR'S PLAN
MR. SPARKS REPORTS THAT THE CASE IS CLOSE TO BEING CONFIRMED TODAY. AN AMENDED BALLOT REPORT HAS BEEN FILED. ALL
CLASSES THAT HAVE VOTED, VOTED IN FAVOR OF THE PLAN AS PROPOSED WITH SOME MODIFICATIONS. THE ISSUES WITH THE SEC
HAVE BEEN RESOLVED.
THE COURT NOTES THAT MR. DRUMMOND'S CLIENT VOTED TO REJECT THE PLAN IN THREE CLASSES. HE ASKS IF THE VOTES HAVE
BEEN CHANGED, AND IF THE MATTER HAS BEEN RESOLVED TO HIS SATISFACTION.
MR. DRUMMOND RESPONDS YES. HIS OBJECTION WILL BE WITHDRAWN.
THE COURT ASKS MR. WATSON ABOUT HIS OBJECTION.
MR. WATSON REPLIES.
DISCUSSION IS HELD.
MR. WATSON NOTES FOR THE RECORD, THAT IN LIGHT OF THE CONSENSUAL NATURE OF THE PLAN, THE U.S. TRUSTEE IS NOT
OBJECTING AT THIS TIME.
MR. SKLAR GIVES AN UPDATE AND STATES THAT THEY BELIEVE THE PLAN IS A MUCH BETTER OPTION THAN LIQUIDATION.
MR. MOTTA STATES THAT HIS CLIENT IS BOTH AN EQUITY OWNER AS WELL AS A CLASS FOUR SENIOR NOTE HOLDER, AND HAS NO
OBJECTION TO THE PLAN BEING CONFIRMED.
COURT: THE PLAN WILL BE CONFIRMED. MR. SPARKS IS TO SUBMIT A FORM OF ORDER ONCE ALL THE CREDITORS HAVE SIGNED OFF
ON IT.
ITEM 2: CONTINUED HEARING ON DEBTOR'S MOTION FOR ORDER ALLOWING DEBTOR TO UTILIZE FUNDS IN ESCROW ACCOUNT FOR
ORDINARY COURSE OF BUSINESS OPERATIONS (CONT. FROM 7/16/12)
COURT: THE PLAN BEING CONFIRMED, THE MOTION IS MOOT.
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