Noranda Aluminum, Inc. filed a motion in the Court for the sale of certain assets on October 7, 2016. The debtor seeks the Court’s approval for the sale of its certain assets to New Day Aluminum LLC, the stalking horse bidder, for a purchase price of $21.5 million in the form of purchase price secured note pursuant to the asset purchase agreement dated October 7, 2016. The debtor’s assets include the assets associated with the aluminum refinery owned and operated by Noranda Alumina LLC located in Gramercy, Louisiana and Noranda Bauxite Limited’s bauxite mining assets and interests located in Jamaica. To qualify as a qualified bidder, interested parties should submit their bids by October 17, 2016. The initial minimum overbid must equal or exceed an amount in cash equal to the principal amount of the purchase price secured note. The debtor has scheduled an auction on October 18, 2016. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would be entitled to a break-up fee of $0.65 million and expense reimbursement capped at $1 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for October 19, 2016. The transaction is expected to close no later than October 31, 2016. Steven J. Williams and Elizabeth R. McColm of Paul, Weiss, Rifkind, Wharton & Garrison LLP represented the debtor as legal advisors and Bruce A. Toth of Winston & Strawn LLP represented the buyer as legal advisor. Debtor filed modifications to the sale procedures on October 17, 2016. As per the modifications filed, sale hearing is scheduled for October 20, 2016.