Exhibit 99.1
IN THE UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
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| In re: | ) | Chapter 11 | ||
| ) | ||||
| SEAL123, INC.,et al.,1 | ) ) | Case No. 15-10081 (CSS) | ||
| Debtors. | ) | Jointly Administered | ||
) ) |
NOTICE OF EFFECTIVE DATE OF FIRST AMENDED JOINT PLAN
OF LIQUIDATION OF SEAL123, INC. AND SUBSIDIARY DEBTORS
AND THEIR OFFICIAL COMMITTEE OF UNSECURED CREDITORS
PLEASE TAKE NOTICE OF THE FOLLOWING:
1.Confirmation Order. On October 30, 2015, the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) entered an order [Docket No. 1111] (the “Confirmation Order”) confirming theFirst Amended Joint Plan of Liquidation of Seal123, Inc. and Subsidiary Debtors and Their Official Committee of Unsecured Creditors[D.I. 969] (including all exhibits thereto, and as amended, supplemented or modified from time to time pursuant to the terms thereof, the “Plan”)2 in the chapter 11 cases of the above-captioned debtors and debtors in possession (collectively, the “Debtors”).
2.Effective Date. The Effective Date of the Plan is December 31, 2015.
3.Fee Claims. As provided in Section 11.2 of the Plan, all final requests for payment of Professional Fee Claims, pursuant to sections 327, 328, 330, 331, 503(b), or 1103 of the Bankruptcy Code, for services rendered during the period from the Petition Date through the Effective Date, must be made by application Filed with the Bankruptcy Court and served on counsel to the Liquidation Trustee, counsel to Buyer, counsel to the Debtors, and counsel to the U.S. Trustee no later than thirty (30) days after the Effective Date, unless otherwise ordered by the Bankruptcy Court. Objections to such applications must be Filed and served on counsel to the Liquidation Trustee, counsel to Buyer, counsel to the Debtors, counsel to the Creditors’ Committee, counsel to the U.S. Trustee and the requesting Professional on or before the date that is twenty-one (21) days after the date on which the applicable application was served (or such longer period as may be allowed by Order of the Bankruptcy Court or by agreement with the requesting Professional).
4.Administrative Claim Bar Date.As provided in Section 11.1 of the Plan, all requests for payment of a Non-Ordinary Course Administrative Claim must be Filed with the Bankruptcy Court and served on counsel to the Liquidation Trustee, counsel to Buyer, counsel to the Debtors, and counsel to the U.S. Trustee no later than forty-five (45) days after the Effective Date, or the first Business Day following such day if the forty-fifth (45th) day after the Effective Date is not a Business Day.
5.Rejection Claims. Under Section 6.1 of the Plan, as of the Effective Date, all executory contracts and unexpired leases of the Debtors that have not been assumed and assigned, or rejected, prior to the Confirmation Date shall be deemed rejected, pursuant to the Confirmation Order, as of the Confirmation Date. Any Creditor asserting a Rejection Claim shall File a proof of claim within thirty (30) days of the Effective Date. Any Rejection Claims that are not timely Filed pursuant to Section 6.1 of the Plan shall be forever disallowed and barred.
| 1 | The Debtors and the last four digits of their respective federal taxpayer identification numbers are as follows: Seal123, Inc. (f/k/a The Wet Seal, Inc.) (5940); Seal123 Retail, Inc. (f/k/a The Wet Seal Retail, Inc.) (6265), Seal123 Catalog, Inc. (f/k/a Wet Seal Catalog, Inc.) (7604), and Seal123 GC, LLC (f/k/a Wet Seal GC, LLC (2855-VA). The Debtors’ address is 26972 Burbank, Foothill Ranch, CA 92610. |
| 2 | Unless otherwise defined in this notice, capitalized terms used in this notice shall have the meanings ascribed to them in the Plan. |
6.Inquiries by Interested Parties. Copies of the Confirmation Order may be examined free of charge at https://www.donlinrecano.com/Clients/wsi/Dockets. The Confirmation Order is also on file with the Bankruptcy Court and may be viewed by accessing the Bankruptcy Court’s website at www.deb.uscourts.gov. To access documents on the Bankruptcy Court’s website, you will need a PACER password and login, which can be obtained at www.pacer.psc.uscourts.gov.
Dated: December 31, 2015
Wilmington, Delaware
/s/ Michael R. Nestor | /s/ Jeffrey N. Pomerantz | |||
Michael R. Nestor (Bar No. 3526) Maris J. Kandestin (Bar No. 5294) Travis G. Buchanan (Bar No. 5595) YOUNG CONAWAY STARGATT & TAYLOR, LLP Rodney Square 1000 North King Street Wilmington, Delaware 19801 Tel: (302) 571-6600 Fax: (302) 571-1253 Email: mnestor@ycst.com mkandestin@ycst.com tbuchanan@ycst.com
and
Lee R. Bogdanoff, Esq. Michael L. Tuchin, Esq. David M. Guess, Esq. Jonathan M. Weiss, Esq. KLEE, TUCHIN, BOGDANOFF & STERN LLP 1999 Avenue of the Stars, 39th Floor Los Angeles, CA 90067 Tel: (310) 407-4022 Fax: (310) 407-9090 Email: lbogdanoff@ktbslaw.com mtuchin@ktbslaw.com dguess@ktbslaw.com jweiss@ktbslaw.com
Counsel for the Debtors and Debtors in Possession | Jeffrey N. Pomerantz, Esq. PACHULSKI, STANG, ZIEHL & JONES, LLP 10100 Santa Monica Blvd., 13th Floor Los Angeles, CA 90067-4003 Tel: (310) 277-6910 Fax: (310) 201-0760 E-mail: jpomerantz@pszjlaw.com
Robert J. Feinstein, Esq. PACHULSKI, STANG, ZIEHL & JONES, LLP 780 Third Ave., 34th Floor New York, NY 10017-2024 Tel: (212) 561-7700 Fax: (212) 561-7777 E-mail: rfeinstein@pszjlaw.com
Bradford J. Sandler, Esq. (DE Bar No. 4142) PACHULSKI, STANG, ZIEHL & JONES, LLP 919 North Market St., 17th Floor Wilmington, DE 19801 Tel: (302) 652-4100 Fax: (302) 652-4400 E-mail: bsandler@pszjlaw.com
Counsel to the Creditors’ Committee |
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