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Real Industry Bankruptcy Sale Approval Sought

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Real Industry filed with the U.S. Bankruptcy Court a motion for the sale of property free and clear of liens and establishing bidding procedures relating to the sale of assets, establishing procedures in connection with the selection and protections afforded to any stalking horse bidders and scheduling a hearing to consider the proposed sale.

The motion explains, “By this Motion, the Debtors seek authority to pursue a sale process that is expected to result in the disposition of substantially all of the Real Alloy Debtors’ assets through the sale of the Real Alloy Debtors’ RANA and RAEU business segments, either together or separately. The Debtors expect that the proposed sale process will result in the highest value for the Real Alloy Debtors’ estates, as well as the preservation of jobs and the Real Alloy business as a going concern.”

The following dates are proposed: deadline to file stalking horse notice (including proposed bid protections and stalking horse agreement) – January 23, 2018, stalking horse objection deadline – January 29, 2018, bid deadline – March 19, 2018, sale objection deadline – March 22, 2018, auction (if necessary) – March 27, 2018, auction objection deadline – March 28, 2018, sale hearing – March 29, 2018, deadline for objecting to sale to stalking horse bidder – March 22, 2018 and deadline for objecting to sale to successful bidder (other than stalking horse bidder) – March 28, 2018.

The Court scheduled a December 19, 2017 hearing to consider the motion, with objections due by December 12, 2017.

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