Ambassadors International, Inc.: Sale Auction Exhibits

Summary 

On April 19, 2011, the United States Bankruptcy Court for the District of Delaware entered an Order (I) Approving Bidding Procedures For The Sale Of Certain Of The Debtors' Assets Free And Clear Of All Liens, Claims And Encumbrances; (II) Approving The Form And Manner Of Notice Of The Sale And Assumption And Assignment Of Executory Contracts And Unexpired Leases; (III) Authorizing Certain Of The Debtors To Execute An Asset Purchase Agreement; And (IV) Scheduling An Auction And Sale Hearing (the "Bid Procedures Order") [Docket No.115].

On May 16-17, 2011, in accordance with the Bid Procedures Order, the Debtors held an auction at the office of Stroock & Stroock & Lavan LLP, 180 Maiden Lane, New York, NY 10038, for competing bids for substantially all the assets of the Sellers;

Following the auction, the Debtors, in consultation with counsel for the official committee of unsecured creditors, determined that a bid from TAC Cruise, LLC (the "Purchaser"), a Delaware limited liability company and whollyowned subsidiary of The Anschutz Corporation was the highest and best offer.

The following documents are made available in the table below for immediate electronic access:

  • Exhibit A to the Notice of Successful Bidder in Sale Auction Notice:  The proposed asset purchase agreement between the Sellers and the Purchaser (the "Purchase Agreement").
  • Exhibit B to the Notice of Successful Bidder in Sale Auction Notice: A revised proposed order (the "Revised Sale Order") approving the sale to the Purchaser pursuant to the Purchase Agreement; and
  • Exhibit C to the Notice of Successful Bidder in Sale Auction Notice: A blackline of the Revised Sale Order against the proposed sale order attached to the Sale Motion as Exhibit B.

PLEASE NOTICE that a hearing on the Sale Motion, including the Debtors' request to approve the sale to the Purchaser pursuant to the Purchase Agreement, is scheduled to take place on May 18, 2011 at 10:00 a.m. (prevailing Eastern Time) before the Honorable Kevin Gross at the United States Bankruptcy Court for the District of Delaware, 824 North Market Street, 6th Floor, Courtroom 3, Wilmington, Delaware 19801.

Notice of Successful Bidder in Sale Auction Exhibits

Notice of Successful Bidder in Sale Auction Document TitleElectronic Image of Document

Exhibit A to the Notice of Successful Bidder in Sale Auction Notice: The proposed asset purchase agreement between the Sellers and the Purchaser (the "Purchase Agreement")

Exhibit A Image

Exhibit B to the Notice of Successful Bidder in Sale Auction Notice: A revised proposed order (the "Revised Sale Order") approving the sale to the Purchaser pursuant to the Purchase Agreement

Exhibit B Image

Exhibit C to the Notice of Successful Bidder in Sale Auction Notice: A blackline of the Revised Sale Order against the proposed sale order attached to the Sale Motion as Exhibit B

Exhibit C Image