Nope all the liens were expunged and attached to the prodceeds of the assets from the sale . As plainly spelled out in the court order for the sale of the plant . When all the money is distributed and a discharge certificate signed the land registry will update . It matters not how much debt is left . The debt ridden shell has zero assets to pay any of it .
‘2]
ORDERS that for the purposes of determining the nature and priority of the Encumbrances, the Net Proceeds from the sale of the Purchased Assets shall stand in the place and stead of the Purchased Assets, and that upon issuance of the Monitor’s Certificate, all affected Encumbrances (except for the Permitted Encumbrances, as contemplated pursuant to the Purchase Agreement), which shall include, without limiting the generality of the foregoing, the Administration Charge. the Interim Lender Charge, the Post-Filing lntercompany Advance Charges and the D&O Charge, shall attach to the Net Proceeds with the same priority as they had with respect to the Purchased Assets immediately prior to the Closing, as if the Purchased Assets had not been sold and remained in the possession or control of the person having that possession or control immediately prior to Closing.
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