Shiloh Industries, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on September 2, 2020. The debtor seeks the Court’s approval for the sale of its substantially all its assets to Grouper Holdings, LLC, the stalking horse bidder, for a purchase price of $218 million in cash pursuant to the asset purchase agreement, dated August 30, 2020. To qualify as a qualified bidder, interested parties should submit their bids by October 26, 2020, along with good-faith deposit in the amount of $21.8 million. The initial minimum overbid should be at least $1 million. The debtor has scheduled an auction on October 29, 2020. The stalking horse bidder would be entitled to a break-up fee of $7.085 million and expense reimbursement of $1.5 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for November 10, 2020. The buyer is represented by Andrew Warmus of Baker & McKenzie LLP as legal counsel.