HTML Document View

Full title: Order Granting Ex Parte Application For An Order Shortening Time For Notice,Limiting Notice, And Specially Setting Hearing On Debtors': (I) Motion For Order (A) Approving Bid Procedures For The Portfolio Sale Of Certain Real And Personal Property Assets;(B) Approving Related Notice Procedures Assumption And Assignment Procedures; (C) Authorizing Debtors To Enter Into Stalking Horse Agreement And Approving Break-Up Fee; (D) Scheduling A Sale Hearing; And(E) Granting Certain Related Relief; And (II) Motion To Amend Order Granting Substantive Consolidation Of Non-Debtor Affiliates Professional Investors 28, LLC And PFI Glenwood, LLC With Debtors (Related Doc # 714) (bg) (Entered: 06/29/2021)

Document posted on Jun 28, 2021 in the bankruptcy, 3 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

The Court having considered the ExParteApplication for anOrder Shortening Time for 9 Notice, Limiting Notice, andSpecially Setting Hearing onDebtors’(I)Approving Bid Procedures for thePortfolio Sale of Certain Real andPersonal Property Assets; 11 (B)Approving Related Notice Procedures Assumption andAssignment Procedures; (C)12 715 foran order: (i)setting the Bid Procedures and Amended Order Hearing17 for July 9, 2021, at 10:00 a.m.; (ii)shortening timefor service ofnoticeof the Motions; (iii)18 limiting notice of the Motions; and (iv) setting abriefing schedule on the Motions; and the Court 19 having considered all of the pleadings and evidence filedin connection with the Application, and20 good cause appearing for the relief requestedin theApplication,21 The time for notice of theBid Procedures and Amended Order Hearing is hereby24 shortened.General Order 38, on the CoreServiceParties via the following 4 Methods: (a) the office the United States Trustee vianoticeof electronic filing (“NEF”), (b) all 5 investors of the LLC Debtors (as defined in the Plan)and the Non-Debtor Affiliates viaNEF,6 email or overnight mail; (iii) all investors of the LP Debtors (as defined in the Plan) via NEF, 7 email or overnight mail; (iv) counsel to the Official Committee and the Ad Hoc Committeesvia 8 NEF; (v) each ofthe secured creditors oftheDebtors and their respective counsel via NEF, U.S. 9 mail or email; and (vi) any parties that have specially requested notice via NEF, U.S. mail or 10 email if known by the Debtors.

List of Tables

Document Contents

1 SHEPPARD, MULLIN, RICHTER & HAMPTONLLP 2 A Limited Liability Partnership Signed and Filed: June 29, 2021Including Professional Corporations 3 ORI KATZ, Cal. Bar No. 209561 J. BARRETT MARUM, Cal. Bar No. 4 228628 JEANNIE KIM, Cal. Bar No. 270713 5 MATT KLINGER, Cal. Bar No. 307362 Four Embarcadero Center, 17th Floor __________________________________________ HANNAH L. BLUMENSTIEL 6 San Francisco, California 94111-4109 U.S. Bankruptcy Judge Telephone: 415.434.9100 7 Facsimile: 415.434.3947 Email: okatz@sheppardmullin.com 8 bmarum@sheppardmullin.com jekim@sheppardmullin.com 9 mklinger@sheppardmullin.com Counsel for theDebtors 10 TRODELLA & LAPPINGLLP Richard A. Lapping, Cal. Bar No. 107496 11 540 Pacific Avenue San Francisco, CA 94133 12 Telephone: (415) 399-1015 Facsimile: (415) 651-9004 13 Email: Rich@TrodellaLapping.com 14 Conflicts Counsel for theDebtorsand Professional Investors 28, LLC and PFI 15 Glenwood, LLC UNITED STATES BANKRUPTCYCOURT 16 NORTHERN DISTRICT OF CALIFORNIA,SANFRANCISCO DIVISION 17 In re CaseNo. 20-30604 (JointlyAdministered) 18 PROFESSIONAL FINANCIAL Chapter 11 INVESTORS, INC., et al., 19 ORDER GRANTING EX PARTE Debtors. APPLICATION FORAN ORDER 20 SHORTENING TIME FOR NOTICE, LIMITING NOTICE,AND SPECIALLY 21 SETTING HEARING ON DEBTORS’: (I)MOTION FORORDER (A)APPROVIN 22 BID PROCEDURES FOR THE PORTFOLIO SALE OF CERTAIN REA 23 AND PERSONAL PROPERTYASSETS; (B)APPROVING RELATED NOTICE 24 PROCEDURES ASSUMPTION AND ASSIGNMENT PROCEDURES; (C) 25 AUTHORIZING DEBTORS TO ENTER INTO STALKING HORSE AGREEMEN 26 AND APPROVING BREAK-UP FEE; (D) SCHEDULING A SALE HEARING;AN 27 (E)GRANTING CERTAIN RELATED RELIEF;AND

1

1 (II)MOTION TO AMEND ORDER GRANTING SUBSTANTIVE 2 CONSOLIDATION OF NON-DEBTOR AFFILIATES PROFESSIONAL 3 INVESTORS 28, LLC AND PFI GLENWOOD, LLC WITH DEBTORS 4 Hearing Requestedfor: Date: July 9, 2021 5 Time: 10:00a.m. Place: Telephonic/Video Appearances Only 6 450 GoldenGate Avenue, 16thFl., Crtrm. 1 San Francisco, CA 94102 7 Judge: Hon.HannahL.Blumenstiel 1 8 The Court having considered the ExParteApplication for anOrder Shortening Time for 9 Notice, Limiting Notice, andSpecially Setting Hearing onDebtors’(I) Motionfor Order (A) 10 Approving Bid Procedures for thePortfolio Sale of Certain Real andPersonal Property Assets; 11 (B)Approving Related Notice Procedures Assumption andAssignment Procedures; (C)12 Authorizing Debtors to Enter Into Stalking Horse Agreement andApproving Break-Up Fee; (D) 13 Scheduling aSale Hearing; and(E) Granting Certain Related Relief; and(II) Motion to Amend 14 Order Granting Substantive Consolidation of Non-Debtor Affiliates Professional Investors 28, 15 LLC andPFI Glenwood, LLC with Debtors(the“Application”)1 filed bythe DebtorsonJune28,16 2021 as Docket No. 715 foran order: (i)setting the Bid Procedures and Amended Order Hearing17 for July 9, 2021, at 10:00 a.m.; (ii)shortening timefor service ofnoticeof the Motions; (iii)18 limiting notice of the Motions; and (iv) setting abriefing schedule on the Motions; and the Court 19 having considered all of the pleadings and evidence filedin connection with the Application, and20 good cause appearing for the relief requestedin theApplication,21 IT IS HEREBYORDERED that: 22 2. The Application is GRANTED. 23 3. The time for notice of theBid Procedures and Amended Order Hearing is hereby24 shortened. The Bid Procedures and Amended Order Hearingwill be held on July 9, 2021,at 25 10:00 a.m. 26 27

2

1 4. By not later than June 30, 2021, the Debtors shall provide notice of the Bid 2 Procedures and Amended Order Hearing on the Motions, which notice shall comply with the 3 Court’s (cid:54)(cid:72)(cid:89)(cid:72)(cid:81)(cid:87)(cid:75)Amended General Order 38, on the CoreServiceParties via the following 4 Methods: (a) the office the United States Trustee vianoticeof electronic filing (“NEF”), (b) all 5 investors of the LLC Debtors (as defined in the Plan)and the Non-Debtor Affiliates viaNEF,6 email or overnight mail; (iii) all investors of the LP Debtors (as defined in the Plan) via NEF, 7 email or overnight mail; (iv) counsel to the Official Committee and the Ad Hoc Committeesvia 8 NEF; (v) each ofthe secured creditors oftheDebtors and their respective counsel via NEF, U.S. 9 mail or email; and (vi) any parties that have specially requested notice via NEF, U.S. mail or 10 email if known by the Debtors. 11 5. The Debtors shall file the certificate of service attesting to service ofthenotice of12 theBid Procedures and Amended Order Hearing on the Motions byJuly 1, 2021. 13 6. Opposition orresponses totheMotions shall be filed no laterthan 10:00 a.m. on14 July 8, 2021,prevailing Pacific Time. 15 7. Any reply by theDebtors to any opposition or response to the Motions shall be16 made at the Bid Procedures and Amended Order Hearing. 17 ***END OF ORDER *** 18 19 20 21 22 23 24 25 26 27 1 Capitalized termsnot otherwisedefined in this AmendedOrder shall have the same meanings

3