The US Bankruptcy Court approved the sale of remaining assets of Ormet Corporation on October 23, 2014. As per the order, debtor has been allowed to sell remaining assets to Smelter Liquidation, LLC for credit bid of all of the allowed post-petition secured claim, $7.50 million of the allowed pre-petition secured claims and all of the secured diminution claim, as per the agreement dated September 30, 2014.