Item 1.01. Entry into a Material Definitive Agreement.
The information set forth in Item 2.01 below is incorporated by reference into
this Item 1.01.
Item 2.01. Completion of Acquisition or Disposition of Assets.
On February 7, 2014, ZCO Liquidating Corporation (the "Company") completed the
sale of certain assets of the Company and certain of its wholly-owned
subsidiaries (the "Power Supply Assets"), mainly consisting of its power supply
and power management assets, to Firepower Technology, Inc., a Delaware
corporation ("Firepower"). The sale was completed pursuant to an Asset Purchase
Agreement (the "Agreement"), dated February 4, 2014, between the Company and
Firepower and was subject to Sections 105 and 363 of Chapter 11 of Title 11 of
the United States Bankruptcy Code, including a marketing process.
The Agreement provided for consideration to be paid by Firepower in the form of
assumption of obligations and payment in cash to the Company of an aggregate of
$850,000. The Company anticipates that the net proceeds from the sale of the
Power Supply Assets will be used principally to pay the claims of the Company's
creditors. The Company does not expect that any assets will be available for
distribution to stockholders.
Item 8.01. Other Events.
As previously reported, on December 2, 2013
, the Company and its wholly-owned
domestic subsidiaries filed voluntary petitions (the "Chapter 11 Petitions") for
relief under Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the District of Delaware
(the "Bankruptcy Court
On January 16, 2014
, the Bankruptcy Court
entered an order (the "Bar Date
Order") establishing the following bar dates for filing proofs of claim against
the Company: (a)March 3, 2014
at 5:00 p.m.
Eastern Prevailing Time (the
"General Bar Date") for all persons and entities other than governmental units
or those noted in (c) below, (b) June 2, 2014
at 5:00 p.m.
Time for all governmental units and (c) the later of (i) the General Bar Date
and (ii) 30 days following the order approving the rejection of an executory
contract or unexpired lease for all persons and entities holding claims arising
from the rejection of the executory contract or unexpired lease.
A copy of the Bar Date Order is available for inspection during regular business
hours at the Office of the Clerk of the United States Bankruptcy Court for the
District of Delaware
, 3rd Floor, 824 N. Market Street
, Wilmington, Delaware
19801. In addition, a copy of the Bar Date Order may be viewed on the internet
for a fee at the Bankruptcy Court's
following directions for accessing the Bankruptcy Court's
system on such website, or free of charge on the website
Item 9.01 Financial Statements and Exhibits.
(b) Pro Forma Financial Information.
Due to the Chapter 11 Petitions and matters related thereto, the Company is
unable to provide any pro forma financial information which may be required by