CIBC Bank USA v. Global Sorghum Solutions, LLC et al
| CIBC Bank USA |
| Chromatin Germplasm, LLC, Chromatin Farms, LLC, Chromatin, Inc., Chromatin Holding, LLC, Marthon AG Services, LLC and Global Sorghum Solutions, LLC |
| S&W Seed Company and ASF Radio, L.P. |
| Novo Turnaround Advisory Group |
| 1:2018cv03417 |
| May 14, 2018 |
| US District Court for the Northern District of Illinois |
| Chicago Office |
| Cook |
| Edmond E Chang |
| Contract: Other |
| 28 U.S.C. § 1332 |
| None |
Docket Report
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This docket was last retrieved on November 1, 2018. A more recent docket listing may be available from PACER.
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| Filing 137 MINUTE entry before the Honorable Edmond E. Chang: Status hearing held. The Receiver's counsel reported on the status of the Receivership and plans for the Excluded Assets. By 12/12/2018, the Receiver shall file a motion to terminate the Receivership, including motion for appropriate relief as to the Excluded Assets and final payment to the Receiver. Plaintiff and Defendants are discussing the resolution of Counts 1 through 6; there indeed was a deficiency of principal and interest of around $700,000 (not including contractual fee shifting). By no later than 12/12/2018 (but earlier if possible), Plaintiff shall either file a motion for consent judgment on Counts 1 through 6, or a motion for default judgment. Status hearing set for 12/19/2018 at 10:45 a.m. Emailed notice (slb, ) |
| Filing 136 STATUS Report Receiver's Amended Report of Sale by Novo Turnaround Advisory Group (Green, Trinitee) |
| Filing 135 STATUS Report Receiver's Report of Sale by Novo Turnaround Advisory Group (Green, Trinitee) |
| Filing 134 TRANSCRIPT OF PROCEEDINGS held on 10-2-2018 before the Honorable Edmond E. Chang. Court Reporter Contact Information: Krista Flynn Burgeson, Krista_Burgeson@ilnd.uscourts.gov, 312-435-5567. IMPORTANT: The transcript may be viewed at the court's public terminal or purchased through the Court Reporter/Transcriber before the deadline for Release of Transcript Restriction. After that date it may be obtained through the Court Reporter/Transcriber or PACER. For further information on the redaction process, see the Court's web site at www.ilnd.uscourts.gov under Quick Links select Policy Regarding the Availability of Transcripts of Court Proceedings. Redaction Request due 10/31/2018. Redacted Transcript Deadline set for 11/13/2018. Release of Transcript Restriction set for 1/8/2019. (Burgeson, Krista) |
| Filing 133 MINUTE entry before the Honorable Edmond E. Chang: Status hearing held. Attorney for the Receiver reported on the status of the sale to S&W Seed Company. The closing is anticipated to occur on 10/24/2018. By 10/29/2018, the Receiver shall file a status report on the closing. The Court directed Plaintiff and the Defendants to confer on resolution of Counts 1 to 6. Status hearing set for 11/01/2018 at 9:00 a.m. Emailed notice (slb, ) . |
| Filing 132 MINUTE entry before the Honorable Edmond E. Chang: In light of the Court's trial schedule, the status hearing on 10/02/2018 is reset to 12:45 p.m. Emailed notice (slb, ) |
| Filing 131 MINUTE entry before the Honorable Edmond E. Chang: In light of the Court's trial schedule, the status hearing at 11 a.m. on 10/02/2018 is reset to 12 p.m. on the same date. Emailed notice (slb, ) |
| Filing 130 ENTERED RULE 54(b) JUDGMENT signed by the Honorable Edmond E. Chang on 10/01/2018. This is the Rule 54(b) judgment attaching the Sale Order and the supplemental Order listing the Purchased Real Property.Emailed notice(slb, ) |
Filing 129
ORDER signed by the Honorable Edmond E. Chang. The motion #127 to amend the Sale Order is granted; the attached listing of properties was inadvertently omitted from the Sale Order. Out of an abundance of caution, the Court will re-enter the Rule 54(b) judgment with this Order and the Sale Order.Emailed notice(slb, )
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| Filing 128 Receiver's Notice of Presentment of Motion to Amend by Interlineation Sale Order NOTICE of Motion by Trinitee Gale Green for presentment of motion to amend/correct, #127 before Honorable Edmond E. Chang on 10/2/2018 at 11:00 AM. (Green, Trinitee) |
| Filing 127 MOTION by Receiver Novo Turnaround Advisory Group to amend/correct order on motion for leave to file,,,,, #125 Motion to Amend by Interlineation Sale Order (Attachments: #1 Exhibit Exhibit A, #2 Exhibit Exhibit B)(Green, Trinitee) |
| Filing 126 ENTERED RULE 54(b) JUDGMENT signed by the Honorable Edmond E. Chang on 9/23/2018:Emailed notice(Chang, Edmond) |
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Filing 125
ORDER signed by the Honorable Edmond E. Chang on 9/23/2018: The Receiver's motion to approve sale to S&W Seed Company is granted. This Order constitutes a Rule 54(b) judgment on Count 7, because there is no just reason for delay and every reason to promptly effectuate the sale. ASF Radio's objections are overruled, as detailed in the Order. Nidera and Syngenta's motion for leave to file #92 objections instanter is terminated as moot in light of the agreement of those companies and the Receiver (as noted in the Order). The Order also addresses the government's objection, and reflects the agreement between the Receiver and the government.Emailed notice(Chang, Edmond)
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| Filing 124 REPLY by Receiver Novo Turnaround Advisory Group Receiver's Post-Hearing Reply Brief (Attachments: #1 Exhibit Declaration of Patrick Hopkins, #2 Exhibit Exhibit 1 to Declaration, #3 Exhibit Exhibit 2 to Declaration)(Green, Trinitee) |
| Filing 123 RESPONSE by Movant ASF Radio, L.P. to other #122 the Receiver's Post-Hearing Brief (Bueschel, Lydia) |
| Filing 122 Post-Hearing Brief by Novo Turnaround Advisory Group Receiver's Post-Hearing Brief (Green, Trinitee) |
| Filing 121 TRIAL Brief Post-Trial Brief by ASF Radio, L.P. (Attachments: #1 Exhibit 1, #2 Exhibit 2, #3 Exhibit 3)(Bueschel, Lydia) |
| Filing 120 TRANSCRIPT OF PROCEEDINGS held on 9/17/18 before the Honorable Edmond E. Chang. Order Numbers: 32199, 32201. Court Reporter Contact Information: Frances Ward (312)435-5561 - wardofficialtranscripts@gmail.com. IMPORTANT: The transcript may be viewed at the court's public terminal or purchased through the Court Reporter before the deadline for Release of Transcript Restriction. After that date it may be obtained through the Court Reporter or PACER. For further information on the redaction process, see the Court's web site at www.ilnd.uscourts.gov under Quick Links select Policy Regarding the Availability of Transcripts of Court Proceedings. Redaction Request due 10/10/2018. Redacted Transcript Deadline set for 10/22/2018. Release of Transcript Restriction set for 12/18/2018. (Ward, Frances) |
| Filing 119 ATTORNEY Appearance for Movant S&W Seed Company by Robert L. Eisenbach (Eisenbach, Robert) |
| Filing 118 MINUTE entry before the Honorable Edmond E. Chang: Hearing held to approve sale. Post-hearing briefs are due by 5 p.m. on 09/19/2018. Cross responses, if any, due by 5 p.m. on 09/20/2018. The final-approval motion is taken under advisement. Status hearing set for 10/02/2018 at 11:00 a.m.Emailed notice (slb, ) |
| Filing 117 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Refiling Declaration of Joseph Greenwood (Attachments: #1 Exhibit Valuation Analysis)(Green, Trinitee) |
| Filing 116 SEALED EXHIBIT by Movant ASF Radio, L.P. (Attachments: #1 Exhibit 7 - ASF)(Bueschel, Lydia) |
| Filing 115 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Response to Confidential Documents Filed Under Seal by ASF Radio and Declaration of Joseph Greenwood Pursuant to September 16, 2018 Minute Order (Attachments: #1 Declaration Declaration of Joseph Greenwood, #2 Exhibit Valuation Analysis Exhibit)(Green, Trinitee) |
| Filing 114 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Receiver's filing of unredacted version of April 2018 Letter of Interest (Green, Trinitee) |
| Filing 113 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Confidential Schedules to Asset Purchase Agreement with Next Highest Bidder (Green, Trinitee) |
| Filing 112 NOTICE by Novo Turnaround Advisory Group Notice of Filing Asset Purchase Agreement with Highest and Next Highest Bidders (Attachments: #1 Exhibit Exhibit A, #2 Exhibit Exhibit B)(Green, Trinitee) |
| Filing 111 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group (Attachments: #1 Appendix Confidential Information Presentation, #2 Appendix April 2018 Letter of Interest, #3 Appendix Executive Summary, #4 Appendix Management Presentation)(Green, Trinitee) |
| Filing 110 SUPPLEMENT to declaration #109 Exhibit A1 to Declaration of Sandeep Gupta in Support of Receiver's Sale Motion (Docket No. 40) (Attachments: #1 Exhibit Exhibit A1)(Green, Trinitee) |
| Filing 109 DECLARATION of Sandeep Gupta in Support of Receiver's Sale Motion (Docket No. 40) (Attachments: #1 Exhibit Exhibit A)(Green, Trinitee) |
| Filing 108 DECLARATION of Joseph Greenwood in Support of Sale Motion (Docket No. 40) (Attachments: #1 Exhibit Exhibit A, #2 Exhibit Exhibit B)(Green, Trinitee) |
| Filing 107 RESPONSE by Receiver Novo Turnaround Advisory Group to motion for leave to file #92 , objections #104 , other #75 , letter #80 Receiver's Omnibus Response to Objections to Approval of Sale of Debtor's Assets (Attachments: #1 Exhibit Exhibit A)(Green, Trinitee) |
| Filing 106 MINUTE entry before the Honorable Edmond E. Chang: In order to provide additional information to the Court and ASF (the only potential objector that disputes the overall valuation of the proposed sale), the Receiver shall file a declaration by 10 a.m. on 09/17/2018 that explains the reasonableness of the valuation when comparing it to the 2016 audited financial statement of Chromatin, Inc. If the Receiver deems it necessary (it might not be, given that the Receiver was hired by Defendants back in 02/2018), then Defendants' management team shall make themselves available for conferral with the Receiver in order to file the declaration. In light of the quick time frame, the Court notes that it is not looking for a detailed substitute for direct examination at the sales approval hearing, but rather a *summary* of the reasons that support the proposed sales price, including a summary explanation of the diminution in assets from 12/31/2016 to the present. Emailed notice (Chang, Edmond) |
| Filing 105 MINUTE entry before the Honorable Edmond E. Chang: Syngenta/Nidera's motion #98 to appear by phone is granted on the same conditions as stated in Docket Entry 100. Syngenta/Nidera's motion for leave to file #92 objection instanter states that "[r]esponsible persons" did not receive notice of the receivership until 09/12/2018, so the timeliness of the objection is in question depending on the precise meaning of that statement. The motion to file instanter will be discussed at the approval hearing. Nonetheless, the questions posed by the proposed objection seems simple enough to answer, and the Receiver or the Receiver's shall make best efforts to confer with Syngenta/Nidera before the hearing to answer them. The sealing of the assets schedules shall not be an impediment to the conferral, because Syngenta/Nidera should be able to learn if agreements to which they are a party are impacted (indeed, the Court could post the answer based on its own review of the schedules, but it makes more sense for the Receiver to answer Syngenta/Nidera directly). Separately, Daniel Guyder's motion to appear pro hac vice #101 is granted.Emailed notice (Chang, Edmond) |
| Filing 104 OBJECTIONS United States' Objection to the Approval of the Sale (Attachments: #1 Exhibit Exhibit 1)(Hsu, I-Heng) |
| Filing 103 Letter to Judge Chang from Daniel J. Guyder by KWS Cereals USA, LLC (Ossyra, James) |
| Filing 102 NOTICE of Motion by James Dennis Ossyra for presentment of motion to appear pro hac vice #101 before Honorable Edmond E. Chang on 9/17/2018 at 01:30 PM. (Ossyra, James) |
| Filing 101 MOTION for Leave to Appear Pro Hac Vice Filing fee $ 150, receipt number 0752-14949741. on behalf of Daniel J. Guyder (Ossyra, James) |
| Filing 100 MINUTE entry before the Honorable Edmond E. Chang: The United States' motion #86 to participate in the 09/17/2018 hearing by phone is granted. The parties and Receiver shall arrange a conference call and provide the information to the courtroom deputy. The courtroom deputy is then authorized to provide the call-in information to any interested attorney on the condition that the attorney shall identify himself or herself and the client on the record at the start of the hearing.Emailed notice (slb, ) |
| Filing 99 NOTICE of Motion by Nathan Andrew Hall for presentment of motion for miscellaneous relief #98 before Honorable Edmond E. Chang on 9/17/2018 at 01:30 PM. (Hall, Nathan) |
| Filing 98 MOTION by Objectors Nidera S.A., Nidera Sementes LTDA, Syngenta Crop Protection, LLCParticipate in Hearing by Telephone (Hall, Nathan) |
| Filing 97 ATTORNEY Appearance for Unknown KWS Cereals USA, LLC by James Dennis Ossyra (Ossyra, James) |
| Filing 96 MINUTE entry before the Honorable Edmond E. Chang: The Receiver's motion to file certain confidential documents under seal #57 is granted. Emailed notice (slb, ) |
| Filing 95 NOTICE by Novo Turnaround Advisory Group Notice of Receiver's Sale Report (Green, Trinitee) |
| Filing 93 NOTICE of Motion by Nathan Andrew Hall for presentment of motion for leave to file #92 before Honorable Edmond E. Chang on 9/17/2018 at 01:30 PM. (Hall, Nathan) |
| Filing 92 MOTION by Objectors Nidera S.A., Nidera Sementes LTDA, Syngenta Crop Protection, LLC for leave to file Objection (Attachments: #1 Exhibit Exhibit 1 - Objection)(Hall, Nathan) |
| Filing 91 ATTORNEY Appearance for Objector Nidera Sementes LTDA by Nathan Andrew Hall (Hall, Nathan) |
| Filing 90 ATTORNEY Appearance for Objector Nidera S.A. by Nathan Andrew Hall (Hall, Nathan) |
| Filing 89 ATTORNEY Appearance for Objector Syngenta Crop Protection, LLC by Nathan Andrew Hall (Hall, Nathan) |
| Filing 88 SEALED EXHIBIT by Movant ASF Radio, L.P. (Attachments: #1 Exhibit Table of Exhibits and ASF Exhibit 1 under seal, #2 Exhibit ASF Exhibit 2 under seal, #3 Exhibit ASF Exhibit 3 under seal, #4 Exhibit ASF Exhibit 4 under seal, #5 Exhibit ASF Exhibit 5 under seal, #6 Exhibit ASF Exhibit 6 under seal)(Bueschel, Lydia) |
| Filing 87 NOTICE by Novo Turnaround Advisory Group Notice of Filing Affidavits of Publication (Attachments: #1 Exhibit Exhibit A)(Green, Trinitee) |
| Filing 86 MOTION by Creditor United States of America for leave to participate telephonically in the September 17, 2018 Sale Hearing. (Hsu, I-Heng) |
| Filing 85 MINUTE entry before the Honorable Edmond E. Chang: Application by Stanley Woodward to appear pro hac vice #82 on behalf of the Movant is granted.Emailed notice (slb, ) |
| Filing 84 TRANSCRIPT OF PROCEEDINGS held on 9-12-18 before the Honorable Edmond E. Chang. Order Number: 32129. Court Reporter Contact Information: Krista Flynn Burgeson, Krista_Burgeson@ilnd.uscourts.gov, 312-435-5567. IMPORTANT: The transcript may be viewed at the court's public terminal or purchased through the Court Reporter/Transcriber before the deadline for Release of Transcript Restriction. After that date it may be obtained through the Court Reporter/Transcriber or PACER. For further information on the redaction process, see the Court's web site at www.ilnd.uscourts.gov under Quick Links select Policy Regarding the Availability of Transcripts of Court Proceedings. Redaction Request due 10/4/2018. Redacted Transcript Deadline set for 10/15/2018. Release of Transcript Restriction set for 12/12/2018. (Burgeson, Krista) |
| Filing 94 MINUTE entry before the Honorable Edmond E. Chang: Motion hearing held the Receiver's motions to intervene #45 and the motion #65 to modify sale order. As detailed during the hearing, the motions are denied. In sum, intervention as of right is inapplicable, Fed. R. Civ. P. 24(a)(2), because the motion was not timely filed in light of the known start of the sales effort on 06/05/2018, the subsequent publicly available updates and timeline on that sales effort, and the overall necessary speed at which the sales effort had to conclude. Also, ASF does not have a direct interest in the property or transaction at issue in *this* case: ASF's claim is not secured, and sales proceeds in excess of the secured debt will be subject to a claim of creditors, including ASF. ASF's interests as an unsecured creditor will be adequately protected by the Receiver's duty to maximize the sales proceeds, the Court's scrutiny, and ASF's ability to participate as an objector. On permissive intervention, Fed. R. Civ. P. 24(b)(1)(B), ASF does not have a claim that shares a common question of law or fact with Plaintiff's claims in this case, and again its interests will be preserved via the right to object to the proposed sale. As the Court explained during the hearing, the record evidence does not demonstrate that the Receiver is somehow designing the sale to satisfy only Plaintiff's secured interest. Instead, the record shows that the Receiver is making his best efforts under very difficult circumstances: a company in severe distress, with a deadlocked board, unwieldy shareholder structure, and looming multi-million dollars worth of payments coming due in 11/2018. Nor is there record evidence that the stalking-horse price is unreasonably undervaluing the assets; if ASF conducted a due diligence or obtained information when it issued the loan that reflects undervaluation, then that should be submitted into the record. To be sure, the Court is wary of substituting equitable receiverships for bankruptcy; this case should be the rare exception. But circumstances have combined to take bankruptcy off the table (and the Court notes that creditors have not petitioned to force Defendants into involuntary bankruptcy). For the same reasons, the motion to modify sales-procedure order is also denied. At the hearing on 09/17/2018, the Receiver shall be prepared to testify under oath to explain the reasonableness of the winning bid, and will be subject to cross-examination. Emailed notice (eec) |
| Filing 83 DECLARATION of Sandeep Gupta, Receiver (Attachments: #1 Exhibit Exhibit A)(Green, Trinitee) |
| Filing 82 MOTION for Leave to Appear Pro Hac Vice Filing fee $ 150, receipt number 0752-14939993. (Woodward, Stanley) |
| Filing 81 NOTICE by Novo Turnaround Advisory Group Notice of Filing Receiver's Proposed Sale Order (Attachments: #1 Exhibit Sale Order)(Green, Trinitee) |
| Filing 79 MINUTE entry before the Honorable Edmond E. Chang: Today, the courtroom deputy received an email from a DOJ Civil Division trial attorney, I-Heng Hsu, stated that he represents the United States as "an interested party" in this case, and requesting to attend the 09/12/2018 hearing over the phone. The Court posts this docket entry to place this request on the record, and the request is granted insofar as counsel wishes to listen to the hearing by phone (counsel shall provide a contact number to the courtroom deputy). But if the government wises to actively participate in the hearing, then counsel must file a motion to do so, stating what its interest is in the case. The motion is due by 4 p.m. on 09/13/2018.Emailed notice (slb, ) |
| Filing 78 MINUTE entry before the Honorable Edmond E. Chang: Application by Robert L. Eisenbach to appear pro hac vice #77 on behalf of Movant S&W Seed Company is granted. Emailed notice (slb, ) |
| Filing 80 LETTER from Sanders Partners.(Exhibits) (tt, ) |
| Filing 77 MOTION for Leave to Appear Pro Hac Vice Filing fee $ 150, receipt number 0752-14934934. for Robert L. Eisenbach III (Attachments: #1 Schedule 1)(Towbin, Steven) |
| Filing 76 ATTORNEY Appearance for Movant S&W Seed Company by Allen Jay Guon (Guon, Allen) |
| Filing 75 Objection to Approval of Sale by ASF Radio, L.P. (Attachments: #1 Exhibit 1)(Valentine, Susan) |
| Filing 74 ATTORNEY Appearance for Movant S&W Seed Company by Christina M Sanfelippo (Sanfelippo, Christina) |
| Filing 73 ATTORNEY Appearance for Movant S&W Seed Company by Steven Bennett Towbin (Towbin, Steven) |
| Filing 72 REPLY by ASF Radio, L.P. to response in opposition to motion #70 , response in opposition to motion #69 , MOTION by Movant ASF Radio, L.P.to Modify Sale Order #65 (Attachments: #1 Exhibit 1)(Bueschel, Lydia) |
| Filing 71 ATTORNEY Appearance for Creditor United States of America by I-Heng Hsu (Hsu, I-Heng) |
| Filing 70 RESPONSE by CIBC Bank USAin Opposition to MOTION by Movant ASF Radio, L.P.to Modify Sale Order #65 (Attachments: #1 Exhibit A (Subordination Agreement))(Warfield, David) |
| Filing 69 RESPONSE by Novo Turnaround Advisory Group in Opposition to MOTION by Movant ASF Radio, L.P.to Modify Sale Order #65 (Green, Trinitee) |
| Filing 68 AMENDED NOTICE of Motion by Susan Valentine for presentment of motion for miscellaneous relief #65 before Honorable Edmond E. Chang on 9/12/2018 at 08:30 AM. (Valentine, Susan) |
| Filing 67 REPLY by ASF Radio, L.P. to MOTION by Movant ASF Radio, L.P. to intervene and protect interests #45 , response to motion #55 , objections, #53 (Bueschel, Lydia) |
| Filing 66 NOTICE of Motion by Lydia Anne Bueschel for presentment of motion for miscellaneous relief #65 before Honorable Edmond E. Chang on 9/12/2018 at 09:30 AM. (Bueschel, Lydia) |
| Filing 65 MOTION by Movant ASF Radio, L.P.to Modify Sale Order (Attachments: #1 Exhibit 1)(Bueschel, Lydia) |
| Filing 64 Receiver's Notice of Presentment of Motion for Authority to File Certain Confidential Documents NOTICE of Motion by Trinitee Gale Green for presentment of motion for miscellaneous relief #57 before Honorable Edmond E. Chang on 9/12/2018 at 08:30 AM. (Green, Trinitee) |
| Filing 63 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Confidential Schedule 3.1 (Green, Trinitee) |
| Filing 62 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Confidential Schedule 1.1.6(c) (Green, Trinitee) |
| Filing 61 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Confidential Schedule 1.1.6(b) (Green, Trinitee) |
| Filing 60 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Exhibit H to Motion for Authority to File Certain Confidential Documents under Seal (Green, Trinitee) |
| Filing 59 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Exhibit G to Motion for Authority to File Certain Confidential Documents under Seal (Green, Trinitee) |
| Filing 58 SEALED DOCUMENT by Receiver Novo Turnaround Advisory Group Exhibit F (Green, Trinitee) |
| Filing 57 MOTION by Receiver Novo Turnaround Advisory Group Authority to File Certain Confidential Documents under Seal (Attachments: #1 Exhibit A)(Green, Trinitee) |
| Filing 56 TRANSCRIPT OF PROCEEDINGS held on 8/28/18 before the Honorable Edmond E. Chang. Order Number: 32042. Court Reporter Contact Information: Frances Ward (312)435-5561 - wardofficialtranscripts@gmail.com. IMPORTANT: The transcript may be viewed at the court's public terminal or purchased through the Court Reporter before the deadline for Release of Transcript Restriction. After that date it may be obtained through the Court Reporter or PACER. For further information on the redaction process, see the Court's web site at www.ilnd.uscourts.gov under Quick Links select Policy Regarding the Availability of Transcripts of Court Proceedings. Redaction Request due 9/28/2018. Redacted Transcript Deadline set for 10/9/2018. Release of Transcript Restriction set for 12/6/2018. (Ward, Frances) |
| Filing 55 RESPONSE by Novo Turnaround Advisory Group to MOTION by Movant ASF Radio, L.P. to intervene and protect interests #45 (Attachments: #1 Exhibit Exhibit A)(Green, Trinitee) |
| Filing 54 CERTIFICATE Certificate of Service of Notice of Sale Procedures and Auction (Attachments: #1 Exhibit Exhibit A, #2 Exhibit Exhibit B, #3 Exhibit Exhibit C, #4 Exhibit Exhibit D, #5 Exhibit Exhibit E, #6 Exhibit Exhibit F, #7 Exhibit Exhibit G, #8 Exhibit Exhibit H, #9 Exhibit Exhibit I, #10 Exhibit Exhibit J, #11 Exhibit Exhibit K, #12 Exhibit Exhibit L, #13 Exhibit Exhibit M, #14 Exhibit Exhibit N, #15 Exhibit Exhibit O)(Unseth, David) |
| Filing 53 OBJECTIONS by CIBC Bank USA to MOTION by Movant ASF Radio, L.P. to intervene and protect interests #45 (Attachments: #1 Exhibit A (Subordination Agreement), #2 Exhibit B (letter from ASF Radio to Receiver))(Warfield, David) |
| Filing 52 NOTICE by Novo Turnaround Advisory Group of Stalking Horse Bidder and Extension of Bid Deadline (Attachments: #1 Exhibit Stalking Horse Agreement)(Green, Trinitee) |
| Filing 51 DECLARATION of Sandeep Gupta as Receiver in support of the Receiver's Motion for entry of the Sale Procedures Order (Green, Trinitee) |
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Filing 50
ORDER Signed by the Honorable Edmond E. Chang on 8/29/2018:Emailed notice(slb, )
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| Filing 49 MINUTE entry before the Honorable Edmond E. Chang: Status and motion hearing held. As discussed during the hearing, the Court explained that there remains an urgent need to move promptly in light of the nature of Defendants' business, and this need has been known since the inception of the case on 05/14/2018. Also, the most recent status report of the Receiver already set forth the proposed sale timeline. On top of that, the record also supports the Receiver's substantial experience in restructuring and sales efforts. Having said that, even if Movant ASF Radio is not permitted to formally intervene, providing additional time between the auction and the approval hearing, as well as requiring conferral with the Receiver, are reasonable steps to protect ASF (and other creditors). So the Receiver shall confer (over the phone is fine) with ASF concerning the sales procedures and the marketing efforts so far. On the motion #45 to intervene, the Receiver shall respond by 09/06/2018. ASF's reply due 09/08/2018. As discussed during the hearing, the Receiver's motion #40 to approve sale procedures and sale order is granted, and ASF may file a motion to modify if not satisfied with the conferral. By the close of business on 08/29/2018, the appropriate person in the Receiver's firm shall file an under-oath verification as the statements in the Receiver's motion #40 . To increase the time between the auction and the approval hearing, the 09/14/2018 hearing is reset to 09/17/2018 at 1:30 p.m. The Report of Sale shall be disseminated by 12 p.m. on 09/14/2018, and shall include the winning sales price. If there is a challenge to the sale, then the parties and interested persons shall have witnesses available on 09/17/2018 so that a final finding may be made as promptly as possible. With regard to the Receiver's second application for approval of Receiver's fees #38 , no objection was filed, and the fees are reasonable in light of the substantial efforts. The motion is granted: $30,000 in fees to the Receiver is approved for the application period.Emailed notice (slb, ) |
| Filing 48 ATTORNEY Appearance for Movant ASF Radio, L.P. by Susan Valentine (Valentine, Susan) |
| Filing 47 NOTICE of Motion by Susan Valentine for presentment of motion to intervene #45 before Honorable Edmond E. Chang on 8/30/2018 at 08:30 AM. (Valentine, Susan) |
| Filing 46 ATTORNEY Appearance for Movant ASF Radio, L.P. by Lydia Anne Bueschel (Bueschel, Lydia) |
| Filing 45 MOTION by Movant ASF Radio, L.P. to intervene and protect interests (Attachments: #1 Exhibit 1)(Valentine, Susan) |
| Filing 44 MINUTE entry before the Honorable Edmond E. Chang: On the Court's own initiative, the status hearing and motion hearings [38, 40] are reset to 8:30 a.m. on the same date, 08/28/2018. Emailed notice (slb, ) |
| Filing 43 MINUTE entry before the Honorable Edmond E. Chang: Receiver's agreed motion #36 for reappointment is granted. The Court hereby reappoints Novo Turnaround Advisory Group as the Receiver on the same terms and conditions and with the same rights, powers, and privileges as set forth in the Receivership Order. Emailed notice (slb, ) |
| Filing 42 MINUTE entry before the Honorable Edmond E. Chang: Receiver's agreed motion #36 for reappointment is granted. The Court hereby reappoints Novo Turnaround Advisory Group as the Receiver on the same terms and conditions and with the same rights, powers, and privileges as set forth in the Receivership Order. Emailed notice (slb, ) |
| Filing 41 Notice of Presentment of Motion to Approve Sale Procedures and Sale Order NOTICE of Motion by Trinitee Gale Green for presentment of motion for miscellaneous relief #40 before Honorable Edmond E. Chang on 8/28/2018 at 09:00 AM. (Green, Trinitee) |
| Filing 40 MOTION by Receiver Novo Turnaround Advisory Group Motion to Approve Sale Procedures and Sale Order (Attachments: #1 Exhibit Proposed Order)(Green, Trinitee) |
| Filing 39 Notice of Presentment of Receiver's Second Application for Approval of Fees and Expenses NOTICE of Motion by Trinitee Gale Green for presentment of motion for miscellaneous relief #38 before Honorable Edmond E. Chang on 8/28/2018 at 09:00 AM. (Green, Trinitee) |
| Filing 38 MOTION by Receiver Novo Turnaround Advisory Group Second Application for Approval of Receiver's Fees and Expenses (Attachments: #1 Exhibit A)(Green, Trinitee) |
| Filing 37 Notice of Filing Motion for an Agreed Order for Reappointment NOTICE of Motion by Trinitee Gale Green for presentment of motion to appoint receiver #36 before Honorable Edmond E. Chang on 8/28/2018 at 09:00 AM. (Green, Trinitee) |
| Filing 36 MOTION by Receiver Novo Turnaround Advisory Group to appoint receiver Motion for Agreed Order to Reappoint Receiver (Attachments: #1 Exhibit Proposed Order)(Green, Trinitee) |
| Filing 35 MINUTE entry before the Honorable Edmond E. Chang: Status hearing held. Counsel reported on the status of the case and the Receivership. The Court approves the Receiver's proposed adjusted timeline for the Sale Process, with the hearing on approval of sale set for 09/14/2018, and the deadline for closing on the sale set for 09/21/2018, at least for now. Status hearing set for 09/14/2018 at 1:30 p.m. With regard to Novo Group's first application for approval of Receiver's fees and expenses, the Court grants the first application for the months of 05/2018 and 06/2018. If Plaintiff ends up having an objection, then Plaintiff shall confer and, if needed, file a motion to reconsider by 08/06/2018. For future fee/expenses motions, the Receiver shall file a motion with a notice of presentment seven days in advance. If no objection is filed on or before two business days before the presentment date, then the Court will presume there is no objection and review the motion accordingly. An additional status hearing is set for 08/28/2018 at 9:00 a.m. The Court emphasizes the need to continue working cooperatively in order to maximize the outcome of the Sale Process, and at the same time, bring the Sale Process and the case to a prompt resolution. Emailed notice (slb, ) |
| Filing 34 NOTICE by Novo Turnaround Advisory Group re statement #33 Notice of Filing Receiver's Fee and Expenses Statement (Green, Trinitee) |
| Filing 33 Receiver's Fee and Expenses STATEMENT by Novo Turnaround Advisory Group (Attachments: #1 Exhibit Proposed Order)(Green, Trinitee) |
| Filing 32 STATUS Report Receiver's Interim Status Report by Novo Turnaround Advisory Group (Green, Trinitee) |
| Filing 31 SUMMONS Returned Executed by CIBC Bank USA as to Chromatin Holding, LLC on 6/6/2018, answer due 6/27/2018. (Rabin, Robert) |
| Filing 30 SUMMONS Returned Executed by CIBC Bank USA as to Chromatin Farms, LLC on 6/6/2018, answer due 6/27/2018. (Rabin, Robert) |
| Filing 29 SUMMONS Returned Executed by CIBC Bank USA as to Chromatin Germplasm, LLC on 6/6/2018, answer due 6/27/2018. (Rabin, Robert) |
| Filing 28 SUMMONS Returned Executed by CIBC Bank USA as to Marthon AG Services, LLC on 6/6/2018, answer due 6/27/2018. (Rabin, Robert) |
| Filing 27 SUMMONS Returned Executed by CIBC Bank USA as to Global Sorghum Solutions, LLC on 6/6/2018, answer due 6/27/2018. (Rabin, Robert) |
| Filing 26 MINUTE entry before the Honorable Edmond E. Chang: Status and motion hearing held on Plaintiff's agreed motion to stay relating to Counts 1 through 6 of the Complaint #15 . For the reasons discussed during the hearing, the motion to stay #15 is granted. The Receiver appeared, along with counsel, and the Court discussed the status of the Receivership with the parties and the Receiver. By 07/20/2018, the Receiver shall file an interim status report on the Letter of Intent. The Court expressed skepticism that it would be able to retain jurisdiction of a wind-down that occurs post-closing and after the Receivership would ordinarily end upon resolution of Plaintiff's claims (and the preservation of assets as to those claims). Status hearing set for 07/23/2018 at 10:00 a.m.Emailed notice (slb, ) |
| Filing 25 STATUS Report Initial Receiver's Report by Novo Turnaround Advisory Group (Attachments: #1 Exhibit Group Exhibit A, #2 Exhibit Exhibit B, #3 Exhibit Exhibit C, #4 Exhibit Exhibit D, #5 Exhibit Exhibit E, #6 Exhibit Exhibit F, #7 Exhibit Exhibit G)(Green, Trinitee) |
| Filing 24 STATUS Report Initial Joint by CIBC Bank USA (Rabin, Robert) |
| Filing 23 ATTORNEY Appearance for Receiver Novo Turnaround Advisory Group by Trinitee Gale Green (Green, Trinitee) |
| Filing 22 MINUTE entry before the Honorable Edmond E. Chang:Motion by David M. Unseth to appear pro hac vice #19 is granted.Emailed notice (slb, ) |
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Filing 21
ORDER Amending Order Authorizing Appointment of Receiver Signed by the Honorable Edmond E. Chang on 6/4/2018:Emailed notice(slb, )
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| Filing 20 MINUTE entry before the Honorable Edmond E. Chang: Plaintiff's motion #17 to correct the order appointing the Receiver is granted in light of the inadvertent omission of Chromatin Holding, LLC. The order describing the correction will be entered separately. Emailed notice (slb, ) |
| Filing 19 MOTION for Leave to Appear Pro Hac Vice Filing fee $ 150, receipt number 0752-14541648. (Green, Trinitee) |
| Filing 18 NOTICE of Motion by Robert F. Rabin for presentment of motion to amend/correct #17 before Honorable Edmond E. Chang on 6/6/2018 at 09:00 AM. (Rabin, Robert) |
| Filing 17 MOTION by Plaintiff CIBC Bank USA to amend/correct by Interlineation Order Authorizing Appointment of Receiver (Attachments: #1 Exhibit A)(Rabin, Robert) |
| Filing 16 NOTICE of Motion by Robert F. Rabin for presentment of motion to stay #15 before Honorable Edmond E. Chang on 6/6/2018 at 09:00 AM. (Rabin, Robert) |
| Filing 15 MOTION by Plaintiff CIBC Bank USA to stay Matters Relating to Counts I Through VI of Complaint (Attachments: #1 Exhibit A, #2 Exhibit B)(Rabin, Robert) |
| Filing 14 TRANSCRIPT OF PROCEEDINGS held on 5-15-18 before the Honorable Edmond E. Chang. Court Reporter Contact Information: Krista Flynn Burgeson, Krista_Burgeson@ilnd.uscourts.gov, 312-435-5567. IMPORTANT: The transcript may be viewed at the court's public terminal or purchased through the Court Reporter/Transcriber before the deadline for Release of Transcript Restriction. After that date it may be obtained through the Court Reporter/Transcriber or PACER. For further information on the redaction process, see the Court's web site at www.ilnd.uscourts.gov under Quick Links select Policy Regarding the Availability of Transcripts of Court Proceedings. Redaction Request due 6/21/2018. Redacted Transcript Deadline set for 7/2/2018. Release of Transcript Restriction set for 8/29/2018. (Burgeson, Krista) |
| Filing 13 NOTICE by Novo Turnaround Advisory Group of Evidence of Compliance (Attachments: #1 Exhibit Exhibit A)(Green, Trinitee) |
| Filing 12 ATTORNEY Appearance for Defendant Chromatin, Inc. by Daniel Arlen Zazove (Zazove, Daniel) |
| SUMMONS Issued as to Defendants Chromatin Farms, LLC, Chromatin Germplasm, LLC, Chromatin Holding, LLC, Chromatin, Inc., Global Sorghum Solutions, LLC, Marthon AG Services, LLC (jn, ) |
| Filing 11 ATTORNEY Appearance for Plaintiff CIBC Bank USA by David A. Warfield (Warfield, David) |
| Filing 10 NOTIFICATION of Affiliates pursuant to Local Rule 3.2 by CIBC Bank USA Plaintiff's Fed. R. Civ. P. 7.1 Disclosure Statement (Rabin, Robert) |
| Filing 9 ATTORNEY Appearance for Receiver Novo Turnaround Advisory Group by Eric S. Prezant (Prezant, Eric) |
| Filing 8 NOTICE TO THE PARTIES - The Court is participating in the Mandatory Initial Discovery Pilot (MIDP). The key features and deadlines are set forth in this Notice which includes a link to the (MIDP) Standing Order and a Checklist for use by the parties. In cases subject to the pilot, all parties must respond to the mandatory initial discovery requests set forth in the Standing Order before initiating any further discovery in this case. Please note: The discovery obligations in the Standing Order supersede the disclosures required by Rule 26(a)(1). Any party seeking affirmative relief must serve a copy of the following documents (Notice of Mandatory Initial Discovery and the Standing Order) on each new party when the Complaint, Counterclaim, Crossclaim, or Third-Party Complaint is served. (pk, ) |
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Filing 7
ORDER Authorizing Appointment of Receiver Signed by the Honorable Edmond E. Chang on 05/15/2018:Emailed notice(slb, )
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| Filing 6 MINUTE entry before the Honorable Edmond E. Chang: Hearing held on Plaintiff's emergency motion for appointment of a Receiver #4 . Defense counsel appeared in court, and stated that Defendants have been on notice of the proposed Receivership for around 7-10 days, but the defense has no response to provide. For the reasons discussed during, the motion #4 is granted. On review of the proposed order, the Court will grant the relief in the order, with the invitation to the defense to narrow the scope of the relief. The order authorizing appointment of a Receiver will be entered in a separate entry. Status hearing set for 06/06/2018 at 9:00 a.m.Emailed notice (slb, ) |
| Filing 5 Notice of Emergency Motion NOTICE of Motion by Robert F. Rabin for presentment of motion to appoint receiver #4 before Honorable Edmond E. Chang on 5/15/2018 at 08:30 AM. (Rabin, Robert) |
| Filing 4 MOTION by Plaintiff CIBC Bank USA to appoint receiver Plaintiff's Emergency Motion for Appointment of a Receiver (Attachments: #1 Exhibit A, #2 Exhibit B, #3 Exhibit C)(Rabin, Robert) |
| Filing 3 ATTORNEY Appearance for Plaintiff CIBC Bank USA by Robert F. Rabin (Rabin, Robert) |
| Filing 2 CIVIL Cover Sheet (Rabin, Robert) |
| Filing 1 COMPLAINT filed by CIBC Bank USA; Filing fee $ 400, receipt number 0752-14468645. (Attachments: #1 Exhibit A, #2 Exhibit B, #3 Exhibit C)(Rabin, Robert) |
| CASE ASSIGNED to the Honorable Edmond E. Chang. Designated as Magistrate Judge the Honorable Sheila M. Finnegan. (ags, ) |
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