Bar Date to File Proof of Claim About to Expire

Updating an earlier post, the Bankruptcy Court on August 20, 2013, entered a Notice setting the deadline for all creditors to file a proof of claim in the Bankruptcy Case for December 12, 2013.  All claims must be filed by that date in order to receive potential distributions thereon.

Order Entered Resolving Dispute between Debtor, Grey Mountain, and Bank

Updating a previous post, the Court entered an Order on or about November 5, 2013, resolving the dispute between the Debtor, GMP, and First Commonwealth Bank regarding the allocation of certain monetary obligations in the wake of the Debtor’s non-real estate asset sale.  Per the terms of the Order stipulated by the Parties, the Bank will turn-over to GMP certain funds attributable to accounts receivable, and GMP will pay certain unpaid employee obligations subject to offset against its lease payments to the Bank.  As a result, the evidentiary hearing on these matters has been cancelled.

Court Enters Order Scheduling Evidentiary Hearing on Contested Matters between Debtor, Grey Mountain, and First Commonwealth Bank

On October 7, 2013, the Debtor and Grey Mountain Partners Fund II, L.P. (“GMP”) filed a Joint Motion to Expedite Hearing on Emergency Motion for an Order Compelling First Commonwealth Bank to Comply with Sale Order.  A dispute has arisen out of the prior sale of substantially all of the Debtor’s non-real estate assets regarding the allocation of certain monetary obligations primarily incurred after the entry of the Sale Order and prior to the closing of the sale.  An expedited hearing was held on October 22, after which the Court entered an Order scheduling an evidentiary hearing for November 22 in Courtroom D, 54^th Floor, U.S. Steel Tower, 600 Grant Street, Pittsburgh, PA 15219.  The scheduling Order also sets forth various deadlines for discovery and pre-trial pleadings/exhibits to be submitted in advance of the hearing.

Court Enters Order Approving Sale of Debtor’s Non-Real Estate Assets; Sale of Debtor’s Real Estate Anticipated

On or about September 25, 2013, the Court entered an Order Approving (I) the Sale of Assets; (II) Approving the Asset Purchase Agreement; and (III) Authorizing the Debtor to Assume and Assign Certain Executory Contract (“Sale Order”) with respect to sale of the Debtor’s non-real estate business assets to Grey Mountain Partners Fund II, L.P. (“GMP”) for the purchase price of $3,250,000.00.  The sale to GMP has been substantially consummated, and the bulk of the sale proceeds have been paid to the Debtor’s primary secured lender, First Commonwealth Bank, with the exception of certain holdbacks for equipment lessors and administrative expenses of the Bankruptcy Estate.  

Additionally, the Debtor previously filed on or about September 11, 2013, an Expedited Motion to Authorize Lease of Real Estate (“Lease Motion”), which was also approved by Order of Court on September 24, 2013.  The authorization of the lease of the real estate allows GMP to lease the premises while parties prepare for a potential sale of the real estate to the Indiana County Development Corporation (“ICDC”) for approximately $1m.  It is anticipated that a motion regarding the proposed sale of the Debtor’s real estate to ICDC will be forthcoming.  

Please feel free to contact us at dlubakcommittee@quinnfirm.com to obtain a copy of the Sale Order, Lease Motion, and/or any other pleadings as filed.

Debtor Files Amended Sale Motion; Bid Procedures Previously Approved

On or about August 28, 2013, the Debtor filed its Amended Motion for Order (I) Approving the Sale of Assets; (II) Approving the Asset Purchase Agreement; and (III) Authorizing the Debtor to Assume and Assign Certain Executory Contract (“Sale Motion”) setting forth the terms of the proposed sale of the Debtor’s corporate assets to GGI Glass Distributors Corp., d/b/a General Glass International (“GGI”) for $2,200,000, and indicating that such sale is subject to higher offers at a public hearing and auction.  The public hearing and auction has been scheduled for September 23, 2013, at 10:00a.m. (“Sale Hearing”) before Judge Deller in Courtroom D, 54^th Floor, U.S. Steel Tower, 600 Grant Street, Pittsburgh, PA 15219.  Any objections to the Sale Motion must be filed by September 16, 2013.

Also, after a series of opposing filings and hearings, the Debtor’s Emergency Motion to Expedite Hearing on Motion for an Order Approving (A) Bidding Procedures for the Sale of Assets of the Debtor; (B) Stalking-Horse Bidder Fee Related To The Sale; (C) Assumption and Assignment Procedures; and (D) Form and Manner of Sale Notice (“Bid Procedures Motion”) was previously approved by Order of Court on August 23, 2013.  The minimum next bid after the opening bid of GGI shale be at least the amount of the opening bid plus $75,000.  Potential bidders at the Sale Hearing must satisfy a number of requirements, including but not limited to, providing evidence of financial ability to consummate the purchase to the Debtor on a timely basis, and providing a proposed asset purchase agreement and deposit at least 48 hours prior to the Sale Hearing.  

Please feel free to contact us at dlubakcommittee@quinnfirm.com to obtain a copy of the Debtor’s Sale Motion, Bid Procedures Motion, and/or any other pleadings as filed.

First Meeting of Creditors Scheduled; Bar Date to File Proofs of Claims Set

On August 20, 2013, the Bankruptcy Court entered a Notice scheduling the Debtor’s First Meeting of Creditors for September 13, 2013, at 12 p.m. at 2nd Floor Conference Room, 110 Franklin Street, Johnstown, PA 15905.  The Notice also set the deadline for all creditors to file a proof of claim in the Bankruptcy Case for December 12, 2013.

Welcome

Welcome to the informational website for creditors of Dlubak Corporation ("Debtor").  The Debtor filed a voluntary Petition for Relief under Chapter 11 of the Bankruptcy Code on August 7, 2013, in the Bankruptcy Court for the Western District of Pennsylvania, Johnstown Division.  

On August 23, 2013, the Office of the United Stated Trustee for the Western District of Pennsylvania formed the Official Committee of Unsecured Creditors of Dlubak Corp. pursuant to 11 U.S.C. § 1102(a)(1).  Members of the Committee include Curbell Plastics, Inc., JPS Elastomeric Corp., Laird Plastics, Sabic Polymershapes, and Dominion Resources Services, Inc.

Also on August 23, 2013, the Committee held a meeting at which it elected Curbell Plastics, Inc. as Chair.  Thereafter, the Committee voted to engage the Quinn Law Firm ("Quinn") as counsel to represent it in these proceedings.  Quinn’s retention application was filed on August 27, 2013.  Any objections or responses to the application are due by September 16, 2013, and a hearing is scheduled for September 23, 2013.

This site will be updated throughout the bankruptcy proceeding in order to provide creditors with information about the Debtor's case.  Creditors are able to submit questions and/or comments to the Committee at dlubakcommittee@quinnfirm.com.  Please check back for additional updates.

Creditors can also access the Debtor's court docket through the Bankruptcy Court’s PACER website, which is https://ecf.pawb.uscourts.gov.  In order to access the docket and view documents filed in the case you will need to obtain a PACER ID, which will require a credit card. PACER charges $.08 per page view.