The Court gave an order approving the stalking bid agreement relating to the sale of certain assets of Noranda Aluminum, Inc. on October 19, 2016. As per the order, debtor has been authorized to sell certain assets to New Day Aluminum LLC as per the agreement dated October 7, 2016. The assets include aluminum refinery located in Gramercy, Louisiana and bauxite mining assets and interests located in Jamaica. Buyer will pay purchase consideration in the form of secured note of $21.50 million and assumption of liabilities. Buyer has paid good-faith deposit of $2.15 million upon execution of the agreement. The Court has also approved bid protection, comprising break-up fee of $0.65 million and expense reimbursement of $1 million. Bruce A. Toth of Winston & Strawn LLP acted as legal counsel for the buyer.