The US Bankruptcy Court gave an order approving the bidding procedures relating to sale of certain assets of Ittella International, LLC on August 16, 2023. Debtor should elect a stalking horse bidder on August 30, 2023. The debtor?s assets include (a) TCI?s U.S. Equity Interests in its direct subsidiaries (Myjojo, NMFD, Karsten, BCI and TTCF) and indirect subsidiaries (Ittella and ICLLC), (b) ICLLC?s Italian Equity Interests in Ittella Italy,18 (c) goods, (d) equipment, (e) accounts receivable, (f) intellectual property,19 (g) goodwill, (h) customer lists, (i) any Contracts and/or Leases designated by any Winning Bidder and/or any Winning Back-Up Bidder for assumption and assignment, and (j) any related assets.

To qualify as a qualified bidder, interested parties should submit their bids by August 25, 2023. If the debtor receives any qualified bids then it would hold an auction for its assets on September 19, 2023. The sale hearing is scheduled for September 27, 2023.