UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
In re: ELECTROGLAS, INC., et al., Debtors.
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Chapter 11 Case No. 09-12416 (PJW) (Jointly Administered)
Re: Docket Nos. 455, 482, 513
RESERVATION OF RIGHTS OF THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS WITH RESPECT TO THE DEBTORS PLAN OF LIQUIDATION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE The Official Committee of Unsecured Creditors (the Committee) of the abovecaptioned debtors and debtors-in-possession (the Debtors), through its undersigned counsel, hereby reserves its rights with respect to the Debtors Plan of Liquidation under Chapter 11 of the Bankruptcy Code (as it may be supplemented or amended, the Plan). In support, the Committee respectfully states as follows: FACTUAL BACKGROUND 1. On July 9, 2009 (the Petition Date), each of the Debtors commenced a
Chapter 11 case by filing a voluntary petition for relief under Chapter 11 of Title 11, United States Code (the Bankruptcy Code). Each of the Debtors continues to operate its businesses and manage its properties as a debtor-in-possession pursuant to Bankruptcy Code Sections 1107(a) and 1108.
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2.
On July 28, 2009, the Office of the United States Trustee for the District
of Delaware appointed the Committee.1 3. On March 4, 2010, the Debtors filed the Disclosure Statement for the
Debtors Joint Plan of Liquidation under Chapter 11 of the Bankruptcy Code (Docket No. 455) (as it may be supplemented or amended, the Disclosure Statement). The original version of the Plan was attached as Exhibit A to the Disclosure Statement. 4. On April 13, 2010, the Court entered an order (Docket No. 513) approving
the Disclosure Statement, as revised. The revised version of the Plan was attached as Exhibit A to the revised and approved Disclosure Statement attached thereto. RESERVATION OF RIGHTS 5. The Committee has been in discussions with the Debtors regarding certain
modifications to the Plan. To date, those discussions have been productive. The Committee hopes that it will be in a position to support the Plan at the time of the hearing thereon. However, the Committee files this Reservation of Rights out of an abundance of precaution, in order to ensure that the Committee may raise any objections to the Plan at the time of the hearing, to the extent that such objections are not resolved consensually prior to such hearing.
The Committee consists of NPI Solutions, Inc., U-Freight America, Inc., and Execuforce LLC. 2
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Dated: May 19, 2010
WOMBLE CARLYLE SANDRIDGE & RICE, PLLC /s/ Matthew P. Ward Steven K. Kortanek (Del. Bar No. 3106) Matthew P. Ward (Del. Bar No. 4471) 222 Delaware Avenue, Suite 1501 Wilmington, DE 19801 (302) 252-4320 (telephone) (302) 252-4330 (facsimile) Counsel for the Official Committee of Unsecured Creditors
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CERTIFICATE OF SERVICE I, Kathleen Lytle, certify that I am not less than 18 years of age, and that on May 19, 2010, I caused a copy of the foregoing to be served on the parties on the attached service list by first class mail.
Dated: May 19, 2010
/s/ Kathleen Lytle Kathleen Lytle
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SERVICE LIST AS OF MAY 20, 2010
G. Larry Engel, Esq. Vincent J. Novak, Esq. Morrison & Foerster LLP 425 Market Street San Francisco, CA 94105 Jane M. Leamy, Esq. Office of the United States Trustee 844 King Street Room 2007, Lockbox 35 Wilmington, DE 19801
James J. DeCristofaro, Esq. Samantha Martin, Esq. Morrison & Foerster LLP 1290 Avenue of the Americas New York, NY 10104 Christopher R. Donoho, III, Esq. Omeca Nedd, Esq. Robin Keller, Esq. Lovells LLP 590 Madison avenue Suite 5 New York, NY 10022 Elizabeth Weller, Esq. Linebarger Goggan Blair & Sampson, LLP 2323 Bryan Street Suite 1600 Dallas, TX 75201 Alistar Bambach Securities & Exchange Commission New York Regional Office Bankruptcy Division 3 World Financial Center Suite 400 New York, NY 10281-1022 Michael Berman Securities & Exchange Commission 15th & Pennsylvania Ave., N.W. Washington, DC 20020 Internal Revenue Service Centralized Insolvency Operation 11601 Roosevelt Boulevard Mail Drop N781 Philadelphia, PA 10154 Eric H. Holder, Jr., Esq. United States Attorney General 950 Pennsylvania Avenue, N.W. Washington, DC 20530-0001
Mark E. Felger, Esq. Cozen OConnor 1201 N. Market Street Suite 1400 Wilmington, DE 19801 Securities & Exchange Commission 15th & Pennsylvania Ave., N.W. Washington, DC 20020
Nathan Fuchs Securities & Exchange Commission 233 Broadway New York, NY 10279 District Director of Insolvency Internal Revenue Service 31 Hopkins Plaza, Room 1150 Baltimore, MD 21201 Ellen Slights, Esq. U.S. Attorneys Office 1007 North Orange Street Suite 700 Wilmington, DE 19899-2046
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Joseph R. Biden, III, Esq. Department of Justice Carvel State Building 820 N. French Street Wilmington, DE 19801 Secretary of Treasury State of Delaware P.O. Box 7040 Dover, DE 19903
Secretary of State Division of Corporations Franchise Tax P.O. Box 7040 Dover, DE 19903 James S. Yoder, Esq. 824 North Market Street White and Williams Suite 902 P.O. Box 709 Wilmington, DE 19899-0709 Attn: President, Secretary, Manager, or Counsel Commerica Bank Attn: Legal Department M/C 4855 333 West Santa Clara San Jose, CA 95113 Attn: President, Secretary, Manager, or Counsel County of Santa Clara 70 W. Hedding Street, East San Jose, CA 95110 Vincent J. Roldan, Esq. DLA Piper US LLP 1251 Avenue of the Americas New York, NY 10020 Craig Tighe, Esq. DLA Piper US LLP 2000 University Avenue East Palo Alto, CA 94303-2214 Giselle Pozark NaviSite, Inc. 400 Minuteman Road Andover, MA 1810 Paul Bridger Oren Eisner Tracy Fu Quintessence Fund LP QVT Financial LP 1177 Avenue of the Americas 9th Floor New York, NY 10036
Lawrence M. Schwab, Esq. Patrick M. Costello, Esq. Bialson, Bergen & Schwab 2600 El Camino Real Suite 300 Palo Alto, CA 94306 Attn: President, Secretary, Manager, or Counsel Cic Lyonaise 8 Rue de La Republique 69001 Lyon, France Attn: President, Secretary, Manager, or Counsel Commerica Bank Attn: Legal Department 226 Airport Parkway San Jose, CA 95110 Attn: President, Secretary, Manager, or Counsel FormFactor 7005 South Front Road Livermore, CA 94551 Eric M. Sutty, Esq. Fox Rothschild LLP Citizens Bank Center 919 North Market Street, Suite 1300 Wilmington, DE 19899 Nick Pasco Peninsula Master Fund, Ltd. 235 Pine Street Suite 1600 San Francisco, CA 94104
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Santa Clara County Tax Attn: President, Secretary, Manager, or Counsel 70 W. Hedding Street, East San Jose, CA 95110 The Bank of New York Trust as Trustee for the Bondholders 700 S. Flowers Street Los Angeles, CA 90017 Robert J. Dehney Andrew R. Remming, Esq. Morris, Nichols, Arsht & Tunnell LLP 1201 North Market Street 18th Floor Wilmington, DE 19899-1347 William J. Wellford Workout Account Manager Tygris Vendor Finance (formerly US Express Leasing) 10 Waterview Blvd. Parsippany, NJ 07054 Charles J. Filardi, Jr. Filardi Law Offices LLC 65 Trumbull Street Second Floor New Haven, CT 06510
John. F. Storz, Esq. Hugh M. McDonald, Esq. Sonnenschein Nath & Rosenthal LLP 1221 Avenue of the Americas New York, NY 10020-1089 Edward P. Zujkowski, Esq. Emmet, Marvin & Martin, LLP 120 Broadway 32nd Floor New York, NY 10271 Craig Martin, Esq. Sturart Brown, Esq. Edwards Angell Palmer & Dodge 919 North Market Street 15th Floor Wilmington, DE 19801 L. Jason Cornell, Esq. Fox Rothschild LLP Citizens Bank Center 919 North Market Street, Suite 1300 Wilmington, DE 19801 Daniel M. Fournier James Carnigan Pepper Hamilton LLP Hercules Plaza, Suite 5100 1313 Market Street Wilmington, DE 19899-1709
Christopher R. Donoho III, Esq. Lovells LLP 590 Madison Avenue New York, New York 10022
David B. Stratton James Carignan Pepper Hamilton LLP Hercules Plaza, Suite 5100 1313 Market Street Wilmington, DE 19899-1709
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