The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Shiloh Industries, Inc. on November 10, 2020. The debtor has been authorized to sell substantially all the assets of Shiloh Industries, Inc. to Grouper Holdings, LLC for a purchase price of $218 million in cash. Under the terms of the asset purchase agreement, the buyer shall make an earnest money deposit of $21.8 million upon the execution of the agreement. The buyer would be entitled to a break-up fee of $7.09 million and expense reimbursement of $1.5 million in case of termination of the asset purchase agreement. The proceeds from the sale would be used to pay off the amount owed to the debtor’s pre-petition lender. The buyer is represented by Andrew Warmus of Baker & McKenzie LLP as its legal advisor.