04/16/2008 433 Response Filed by 10315 LLC, John P Murphy III, John P. Murphy Revocable Trust No. 1 III, Pro Plas LLC (RE: related document(s)422 Motion to Sell Property under Section 363(b) filed by Trustee James D. Lyon). (Case, E.) (Entered: 04/16/2008)
--------------------
Doc 433
OCR extract
In re:
Case No. 07-50934
Chapter 11
PLASTICON INTERNATIONAL, INC.,
Debtor.
THE MURPHY ENTITIES' RESPONSE TO CHAPTER 7 TRUSTEE JAMES D. LYON'S MOTION FOR AN ORDER (A) AUTHORIZING THE TRUSTEE TO CONSUMMATE A PATENT ASSIGNMENT AND BILL OF SALE WITH DCA CONSTRUCTION PRODUCTS, LLC FOR THE ASSIGNMENT OF PATENTS AND SALE OF CERTAIN TOOLING AND INVENTORY, (B) AUTHORIZING THE SALE FREE AND CLEAR OF LIENS, INTERESTS, AND ENCUMBRANCES,(C) EXEMPTING THE SALE FROM TRANSFER TAXES, (D) WAIVING THE RULE 6004(G) 10 DAY STAY, (E) REQUEST FOR EXPEDITED HEARING, AND (F) ALTERNATIVELY AUTHORIZING PAYMENT
OF A BREAKUP FEE
OPP LLC f/k/a Pro Plas LLC, a Missouri limited liability company, the John P. Murphy III Revocable Trust No. 1, 10315 LLC, a Missouri limited liability company, and John P. Murphy, an individual, (the "Murphy Entities") file this their Response to Chapter 7 Trustee James D. Lyon's Motion for an Order (A) Authorizing the Trustee to Consummate A Patent Assignment and Bill of Sale with DCA Construction Products, LLC for the Assignment of Patents and Sale of Certain Tooling and Inventory, (B) Authorizing the Sale Free and Clear of Liens, Interests, and Encumbrances, (C) Exempting the Sale from Transfer Taxes, (D) Waiving the Rule 6004(G) 10 Day Stay, (E) Request for Expedited Hearing, and (F) Alternatively Authorizing Payment of a Breakup Fee ("Trustee's 363 Sale Motion") and in support thereof state the following:
1. The Murphy Entities support the Trustee's 363 Sale Motion.
2. The Murphy Entities request that any order that is signed and entered clarify the following paragraphs of the Trustee's 363 Sale Motion:
a. Paragraph 7 states "The Assets that are the subject of the agreement are: approximately thirteen (13) tractor trailer loads of plastic inventory (the "Inventory")..."
b. Ten tractor trailers holding plastic inventory are in St. Louis, Missouri.
c. Paragraph 9 states "As of February 29, 2008, the costs due to Mr. Murphy were estimated as approximately $6,500."
d. The costs and expenses that had been paid by the Murphy Entities since October 10, 2007 in regard to the Plasticon proprietary product or molds were estimated to be approximately $21,000 on February 29, 2008.
e. On April 14, 2008 the Murphy Entities reported that the actual costs and expenses were $26,781.22.
3. The Murphy Entities request that any order that is signed and entered state that the following items that are listed on Exhibit "2" to the First National Bank of Barnesville's Motion for Relief from Automatic Stay and Abandonment of Property (D.E. #407) are not property of Debtor Plasticon International, Inc. but were the property of Debtor Pro Mold, Inc. and were foreclosed upon, and are not being sold pursuant to the Trustee's 363 Sale Motion :
(1) Moisture analyzer/scale/wprinter .AD1191; (See Exhibit "D")
(2) 2 Quality test machines. Including drawings and technical set-up data; (Designed and built by Pro Mold, Inc. Plant Engineers with component
(3) All quality manuals; (Proprietary work of the molder, Pro Mold, Inc.)
(4) All quality records/samples and data from initial production runs thru October 2006; (Location unknown, may be on one of the trailers) and
(5) 2 Hot runner controllers (12) zone, with cables. (See Exhibit "E")
WHEREFORE, the Murphy Entities request that the Court sustain and approve the Trustee's 363 Sale Motion, that any order that is signed and entered clarify that ten not thirteen tractor trailer loads of plastic inventory are being sold, that the Murphy Entities have paid $26,781.22 in actual costs and expenses from October 10, 2007 through April 14, 2008 in regard to the "Plasticon proprietary product", and that the following items that are listed on Exhibit "2" to the First National Bank of Barnesville's Motion for Relief from Automatic Stay and Abandonment of Property (D.E. #407) are not property of Debtor Plasticon International, Inc. but were the property of Debtor Pro Mold, Inc. and were foreclosed upon, and are not being sold pursuant to the Trustee's 363 Sale Motion:
(1) Moisture analyzer/scale/wprinter .AD 1191;
(2) Quality test machines Including drawings and technical set-up data;
(3) All quality manuals;
(4) All quality records/samples and data from initial production runs thru October 2006; and
(5) 2 Hot runner controllers (12) zone, with cables.
STONE, LEYTON & GERSHMAN
A Professional Corporation
By; /s/ E. Rebecca Case
E. Rebecca Case, EDMO #2800
Howard S. Smotkin, EDMO #4407
7733 Forsyth Boulevard, Suite 500
St. Louis, Missouri 63105
(314) 721-7011
(314) 721-8660 Facsimile
erc@stoneleyton.com
hss@stoneleyton.com
Attorneys for the Murphy Entities
CERTIFICATE OF SERVICE
This is to certify that a true and correct copy of the foregoing document has been served electronically and/or by first class mail in the method established under CM/ECF Administrative Procedures Manual and the Local Court Standing Order dated July 25, 2002, via electronic and/or first class, postage prepaid U.S. mail on this 16th day of April 2008. |
