September 10, 2021
I hope you all were able to enjoy a relaxing Labor Day Weekend.
We have been busy at the MRC since our last update, conducting tours for potential buyers of the Hampden plant and working with the Bondholder Trustee in developing invitations to bid.
Of the four entities that toured the plant, one has withdrawn from the process, so invitations to bid are going to the remaining three, which were deemed qualified potential buyers. The Bondholder Trustee and the MRC have instructed the invitees that proposals must be received electronically within a tight deadline.
The Trustee and MRC will review and select a preferred proposal within a week of that deadline.
The preferred proposal will be the subject of a sale with target approval/closing date sometime in November. The Trustee and MRC may also elect to designate a backup bidder in the event the preferred proposal Buyer does not close.
Both the Trustee and MRC reserve the right to modify the deadline dates, negotiate with Buyers on proposals, and to reject any and all proposals.
Regarding Delta Thermo Energy (DTE), they continue to pursue financing and remains a potential buyer.
If you have any questions, please not hesitate to get in touch with me.
MRC Executive Director