PUBLIC NOTICE OF CHAPTER 11 SALE: MP REORGANIZATION

NOTICE OF AUCTION OF NEW EQUITY
INTERESTS IN REORGANIZED MP REORGANIZATION

In re MP Reorganization, Case No. 22-14422-NMC, pending in the United States Bankruptcy Court for the District of Nevada

PLEASE TAKE NOTICE THAT at the conclusion of the Confirmation Hearing, scheduled to commence on January 24, 2025 at the hour of 9:30 a.m. Pacific Time, or such other date to which the Court may continue the Auction, the Court will hold an Auction for the New Equity Interests in the Reorganized Debtor pursuant to the Creditors’ Third Amended Plan of Reorganization for MP Reorganization Under Chapter 11 of the Bankruptcy Code (as amended, the “Plan”) [Case No. 22-14422-NMC, ECF No. 1234 (D. Nev. Bank.)]. The Reorganized Debtor will hold NOLs and the intellectual property for Coco Protein TM .  The Auction will take place only if the Plan is confirmed. The sale will be on a “where is, as is” basis, without any representations and warranties, express or implied, and as further set forth in the Plan.

The Opening Bid for the New Equity Interests is $250,000. Qualified bidders must submit written bids in advance of the Auction by no later than January 17, 2025, which shall meet the criteria set forth in the Plan.

Auction. The Court shall determine, upon the recommendation of the Chapter 11 Trustee, if more than one Entity has timely filed a Qualified Bid. If more than one Entity timely filed a Qualified Bid, then the Court shall conduct an Auction as soon as practicable following the conclusion of the Confirmation Hearing. Any bidder submitting a Qualified Bid may appear and submit its highest and best bid at the Auction. The Auction may be adjourned by the Court at the Auction without further notice. Only bidders that have submitted Qualified Bids shall be entitled to make any subsequent bids at the Auction. The submission of a Non-Qualified Bid does not entitle the bidder to participate in the Auction.

Auction Procedures: Bidding at the Auction shall begin initially with the Opening Bid and shall subsequently continue in an open cry auction. Bidding may continue until the Court determines that it has received the highest or otherwise best bid for the New Equity Interests. After the Court makes such determination the Auction will be closed. Each Qualified Bidder shall be required to confirm that it has not engaged in any collusive behavior with respect to the bidding, the Auction, or the purchase and sale pursuant to this Plan. At the Auction, a bidder will be permitted to increase its bid only with the permission of the Court based upon the Court’s determination that a Qualified Bidder has the wherewithal to perform its bid if increased and that such proposed bid increase is in the best interests of the Debtor. The Court shall retain the right to modify the bid increment requirements and any other Auction terms at the Auction.

Any parties interested in further information about these Auction procedures should refer to the Plan (capitalized terms not otherwise defined herein shall have those meanings in the Plan), Disclosure Statement, or contact the counsel for the Plan Proponents as set forth below:

Teresa Pilatowicz, Esq.

GARMAN TURNER GORDON

7251 N. Amigo Street
Las Vegas, Nevada 89119
(725) 777-3000
[email protected]