West Palm Beach, FL (September 25, 2012) – At the request of the City of West Palm Beach legal team in a Delaware bankruptcy court, it was confirmed today that the sale of the California and Canadian assets of Digital Domain excluded the West Palm Beach property involved in the Digital Domain agreement.
The language was included as paragraph number 53 in the sale agreement.
Paragraph 53 reads as follows:
“53. On September 21, 2012, the City of West Palm Beach and the West Palm Beach Community Redevelopment Agency filed a limited objection to the Sale Motion [Docket No. 173] (the “WPB Objection”). For avoidance of doubt, the WPB Real Property (as defined in the WPB Objection) and the WPB Related Agreements (as defined in the WPB objection) constitute Excluded Assets under the Agreement and shall not be sold, transferred or otherwise assigned to the Buyer. The WPB Objection is resolved.”
For the public’s review, the entire sale order is available by clicking the link below: