Premiere Exhibitions Update:Titanic Artifact Auction Cancelled

On 8 Oct 2018, Premier Exhibitions filed a Notice of Cancellation of Auction with the federal bankruptcy court as no other bidders met the minimum required. This means that the bid submitted by PacBridge Capital Partners (HK) et al for $19.5 million will stand. The company will now seek the court approval to sell the company and artifacts to them.

The Equity Committee has filed motions opposing the sale and still seeks other bidders.

Source(s):
1. NOTICE OF CANCELLATION OF AUCTION AND INTENT TO SEEK APPROVAL OF THE SALE OF THE TRANSFERRED ASSETS TO THE STALKING HORSE PURCHASER
(In re:RMS Titanic Inc et al, Case No. 3:16-bk-02230-PMG, October 8, 2018
http://upshotservices.s3.amazonaws.com/files/497d5a77-fff2-49a9-98f0-c32110ea0410/ad81cdf4-23da-4d53-acbe-090ed4aa2846.pdf
2. Equity Committee Response Opposing Motion To Approve Sale
http://upshotservices.s3.amazonaws.com/files/497d5a77-fff2-49a9-98f0-c32110ea0410/fe9ca2ec-a6bd-41f4-8b29-d058e4a62b24.pdf
3. Equity Committee Reservation of Rights and Limited Objection
http://upshotservices.s3.amazonaws.com/files/497d5a77-fff2-49a9-98f0-c32110ea0410/efc460b5-fde9-4963-a5f3-bb05738d17ea.pdf

Leave a Reply

Your email address will not be published. Required fields are marked *