Ontario · CCAA
The purpose of this One Hundred and Twentieth Report of the Monitor (the “One Hundred and Twentieth Report”) is to provide this Court with information regarding the Monitor and Canadian Debtors’ motion seeking: a) approval of an asset sale agreement dated July 23, 2015, amongst NNL and NNTC (collectively, the “Seller”), as seller, Frontier Communications Corporation (“Frontier” or the “Purchaser”), as purchaser, and Norton Rose Fulbright Canada LLP (solely for the limited purpose of acting as escrow agent in accordance with the escrow terms attached to the asset sale agreement) (“Norton Rose”) in respect of the sale of the Seller’s rights in a certain number of IP Addresses (the “Frontier Sale Agreement”); and b) a sealing order in respect of the Confidential Appendices to this One Hundred and Twentieth Report, and to provide the Monitor’s support in respect thereof
Court officer report · 24 July 2015
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing5 verified
- closing confirmedscope: a portion of the IP Addresses · outcome: completed · effective: 2012-02-27 · purchaser: salesforce.com, Inc. · date basis: stated_partial; scope: a portion of the IP Addresses (staged closing, three tranches) · outcome: completed · effective: 2015-04-23 · purchaser: Zhejiang Tmall Technology Co., Ltd. · date basis: stated
- process resultsndas: 16 · note: figures relate to the original 2011 Residual IT Assets marketing process · as of: 2015-07-24 · solicited: 107 · qualified bids: 8
- purchaserFrontier Communications Corporation; salesforce.com, Inc.; CSC Holdings, LLC; Bell Aliant Regional Communications, Limited Partnership; Vodafone Americas Inc.; Beyond Excellent Technology Ltd; Charter Communications Operating, LLC; Zhejiang Tmall Technology Co., Ltd.; Alibaba.com LLC
- sale advisorunnamed broker
- sale outcometext: Monitor recommends the Court grant the proposed Approval and Vesting Order for the Frontier transaction · scope: parcel · status: pending_approval