On or about December 27, 2013, the Debtor filed an
application to employ a real estate broker (the “Application”) with respect to
the sale of the Debtor’s manufacturing facility. The Debtor previously sold
substantially all of its non-real estate assets to Grey Mountain and has essentially ceased
doing business. In conjunction therewith the Debtor had been attempting
to procure a buyer with respect to its remaining real estate holdings, which Grey Mountain currently leases.
The Debtor now seeks to have Laurence Neish of Whyte/Stone Realty LLC appointed
as broker because no purchase offers have been forthcoming. A hearing on
the Application has been scheduled for January 23, 2014, at 10am in the
Johnstown Courtroom, with responses due by January 16, 2014.
Additionally, the United Steelworkers (the “USW”) filed an unsecured priority claim in excess of $224,000 (the “Claim”) based on certain pre-petition wages/benefits that have purportedly not been paid to union employees. As alleged in the documents attached to the Claim, the Debtor has purportedly not honored certain pre-petition obligations per the terms of a collective bargaining agreement with the USW. The Claim currently represents an unsecured priority claim that would get paid ahead of general unsecured claims. The Claim is generally subject to further amendment and/or objection.
