Sunday, November 21, 2010

All American sells almost all assets - South Florida Business Journal:

http://seponix.com/planning/that-was-i-think-i-have-the-first-prize-of-the-signal-can-be-adjusted/
million. The Miami-based distributor of semiconductors and other electronixc components said the successful bid was froma two-party consortium of Rock Rivee Capital LLC and All American's (Pink SEMI) own , for which Harri s N.A. acts as The deal remains subject to bankruptcycourtr approval. All American said it expects Rock River to continud to operateAll American's assets as a goinbg concern. Rock River did not purchase the company's commercial tort claims, avoidance accounts receivable and certain othermiscellaneousw assets. Subject to bankruptcy court approval, the company's senior secured lenders were the successful bidderss forthe company's accounts receivable.
None of All American's commerciapl tort claims or avoidanceactions sold. The $15.q million is to go to Harris N.A. as agent for the senior secured lenders. The auction included asseta ofAll American's 33 subsidiaries in the United Canada, Mexico, Europe and The bankruptcy court is scheduled to consider sale approval on Tuesday. Sale closingy is set for no laterthan Friday. On April 25, All Americab filed voluntary under Chapter 11 ofthe U.S. Bankruptcyh Code. Shares closed unchanged at 28 cents. No 52-weeki high/low information was available.

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