Exhibit 99.1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
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In re:
STARRY GROUP HOLDINGS, INC., et al.,1
Debtors.
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Chapter 11
Case No. 23-10219 (KBO)
(Jointly Administered)
Docket Ref. Nos. 6 and 74
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NOTICE OF INTERIM ORDER (I) ESTABLISHING NOTIFICATION
PROCEDURES AND APPROVING RESTRICTIONS ON CERTAIN
TRANSFERS OF, OR WORTHLESSNESS DEDUCTIONS WITH RESPECT
TO, STOCK OF THE DEBTORS AND (II) GRANTING RELATED RELIEF
TO ALL PERSONS WITH STOCK OWNERSHIP OF THE DEBTORS:
PLEASE TAKE NOTICE THAT on February 20, 2023 (the “Petition Date”), the above-captioned debtors and debtors in possession (collectively, the “Debtors”) commenced voluntary cases under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). Subject to certain exceptions, section 362 of the Bankruptcy Code operates as a stay of any act to obtain possession of property of the Debtors’ estates or of property from the Debtors’ estates or to exercise control over property of the Debtors’ estates.
PLEASE TAKE FURTHER NOTICE THAT, on the Petition Date, the Debtors filed a motion [Docket No. 6] (the “Motion”)2 seeking entry of an order pursuant to sections 105, 362, and 541 of the Bankruptcy Code establishing certain procedures (the “Stock Procedures” and the “Worthless Stock Deduction Procedures”) with respect to direct and indirect trading, transfers of, and worthlessness deductions with respect to, stock of Starry Group Holdings, Inc. (“Starry Group Stock”).
PLEASE TAKE FURTHER NOTICE THAT on February 23, 2023, the United States Bankruptcy Court for the District of Delaware (the “Court”) entered an interim order [Docket No. 74] (the “Interim Order”) approving the Stock Procedures and Worthless Stock Deduction Procedures. A final hearing on the Motion is scheduled on March 22, 2023 at 2:00 p.m. (Eastern Time) (the “Final Hearing”). Any objections to the relief granted in the Interim Order must be filed with the Court and served on proposed counsel for the Debtors SO AS TO BE ACTUALLY RECEIVED no later than seven days before the Final Hearing (the “Objection Deadline”).
[1] The debtors in these cases, along with the last four digits of each debtor’s federal tax identification number, are: Starry Group Holdings, Inc. (9355); Starry, Inc. (9616); Connect Everyone LLC (5896); Starry Installation Corp. (7000); Starry (MA), Inc. (2010); Starry Spectrum LLC (N/A); Testco LLC (5226); Starry Spectrum Holdings LLC (9444); Widmo Holdings LLC (9208); Vibrant Composites Inc. (8431); Starry Foreign Holdings Inc. (3025); and Starry PR Inc. (1214). The debtors’ address is 38 Chauncy Street, Suite 200, Boston, Massachusetts 02111.
[2] Capitalized terms used but not otherwise defined herein have the meanings ascribed to such terms in the Motion.
PLEASE TAKE FURTHER NOTICE THAT if an objection is timely filed, served, and received before the Objection Deadline, such objection will be heard at the Final Hearing on the Motion. If no objections are timely filed and served in accordance with the procedures set forth herein, proposed counsel to the Debtors will file a certification of counsel to that effect attaching a final form of order and the Court may enter a final order granting the Motion without further notice and in advance of the Final Hearing.
PLEASE TAKE FURTHER NOTICE THAT, pursuant to the Interim Order, the following Stock Procedures and Worthless Stock Deduction Procedures are in effect:
Stock Procedures
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Worthless Stock Deduction Procedures
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PLEASE TAKE FURTHER NOTICE THAT, upon the request of any person, proposed counsel to the Debtors, (i) Latham & Watkins LLP, (1) 355 South Grand Avenue, Suite 100, Los Angeles, California 90071 (Attn: Ted A. Dillman, Jeffrey T. Mispagel, and Nicholas J. Messana, Esq. (Emails: ted.dillman@lw.com, jeffrey.mispagel@lw.com, and nicholas.messana@lw.com)) and (2) 330 North Wabash Avenue, Suite 2800, Chicago, Illinois 60611 (Attn: Jason B. Gott, Esq. (Email: jason.gott@lw.com)), and (ii) Young Conaway Stargatt & Taylor, LLP, Rodney Square,
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1000 North King Street, Wilmington, Delaware 19801 (Attn: Kara Hammond Coyle, Joseph M. Mulvihill, and Timothy R. Powell (Emails: kcoyle@ycst.com, jmulvihill@ycst.com, and tpowell@ycst.com)), will provide a form of each of the required notices described above.
PLEASE TAKE FURTHER NOTICE THAT a copy of the Interim Order may be obtained free of charge online at http://www.kccllc.net/Starry.
FAILURE TO FOLLOW THE PROCEDURES SET FORTH IN THIS NOTICE WILL CONSTITUTE A VIOLATION OF, AMONG OTHER THINGS, THE AUTOMATIC STAY PRESCRIBED BY SECTION 362 OF THE BANKRUPTCY CODE.
ANY PROHIBITED PURCHASE, ACQUISITION, ACCUMULATION, SALE, TRADE, OR OTHER TRANSFER OF STARRY GROUP STOCK IN VIOLATION OF THE INTERIM ORDER WILL BE NULL AND VOID AB INITIO AND MAY BE PUNISHED BY CONTEMPT OR OTHER SANCTIONS IMPOSED BY THE COURT.
PLEASE TAKE FURTHER NOTICE THAT the requirements set forth in this Notice are in addition to the requirements of applicable securities, corporate, and other laws, and do not excuse compliance therewith.
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Dated: February 23, 2023 Wilmington, Delaware
| YOUNG CONAWAY STARGATT & TAYLOR, LLP
/s/ Kara Hammond Coyle Michael R. Nestor (No. 3526) Kara Hammond Coyle (No. 4410) Joseph M. Mulvihill (No. 6061) Timothy R. Powell (No. 6894) Rodney Square, 1000 North King Street Wilmington, Delaware 19801 Telephone: (302) 571-6600 Facsimile: (302) 571-1253 Email: mnestor@ycst.com kcoyle@ycst.com tpowell@ycst.com
-and-
LATHAM & WATKINS LLP
Jeffrey E. Bjork (pro hac vice admission pending) Ted A. Dillman (pro hac vice admission pending) Nicholas J. Messana (pro hac vice admission pending) Los Angeles, California 90071 Telephone: (213) 485-1234 Facsimile: (213) 891-8763 Email: jeff.bjork@lw.com ted.dillman@lw.com jeffrey.mispagel@lw.com
Jason B. Gott (pro hac vice admission pending) 330 North Wabash Avenue, Suite 2800 Chicago, Illinois 60611 Telephone: (312) 876-7700 Facsimile: (312) 993-9767 Email: jason.gott@lw.com
Proposed Counsel for Debtors and Debtors in Possession |
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