DailyDAC
Tuesday, February 15, 2022
Public Notice of Sales
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Public Notice of Bankruptcy 363 Sale

Residential Portfolios on Purdue University Campus. Multiple residential portfolios including 89 properties (82 of which are in a prime waterfront location) located in West Lafayette and Lafayette, Indiana on the campus of Purdue University. The sealed bid deadline is February 24th at 5 pm ET. Exclusive Marketing Agent is AW Properties Global.

More information on DailyDAC.

Public Notice of Article 9 Sale

H3PL Warehouse & Delivery, LLC ("Borrower"). Guardian Capital Financing IV LLC, as successor secured creditor ("Secured Creditor") of Borrower will hold a public foreclosure sale under UCC Article 9-610 on March 1st at 10 am CT. The sale will consist of all the personal property collateral pledged to Secured Creditor, including, without limitation, machinery and equipment, general intangibles, contract rights and all other personal property assets, other than any collateral specifically excluded by Secured Creditor in its discretion. The Borrower is in the business of operating a warehouse in Illinois. Counsel for the Secured Party is Robert E. Richards of Dentons US LLP.

More information on DailyDAC.

Have a sale that needs Public Notice? Learn more here.

Johnson & Johnson’s Bankrupt Baby at Four Months Old

JNJ’s stock trades at just about the same price it did a year ago. Many of its peers have done much better in the same timeframe: Merck is up more than 11%. Eli Lilly is up nearly 18%. Novo Nordisk is up more than 35%. And Pfizer is up more than 50%. Why? And despite its lackluster performance, most analysts appear to have buy or hold recommendations on JNJ. Why?

JNJ used a legal process, commonly referred to as a “Texas Two-Step,” to essentially create a “newco” in which it separated its talc (asbestos)-related liabilities. That newco, LTL Management LLC, then filed chapter 11 just about four months ago. A motion to dismiss the LTL chapter 11 as having been filed in bad faith is being heard this week (February 14th through February 18th).

You can read more about this in What’s Past is Prologue. We will also discuss it and whether we think it a stock to buy or sell in tomorrow’s edition of our Distressed Deal Data™ Newsletter. See a recent issue here. Subscribe here.

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