Notice (2025-04-07)
- Date
- 2025-04-07
Summary
Exhibit B, filed April 7, 2025 as Doc 1056-2 in the jointly administered Chapter 11 cases of Vyaire Medical, Inc., et al., Case No. 24-11217 (BLS), in the U.S. Bankruptcy Court for the District of Delaware. It reproduces an Official Form 410 Proof of Claim, Claim No. 132, filed August 01, 2024 by Quad DBC Holdings LLC against Vyaire Medical, Inc. for $24,439,923.00, described as a landlord claim based on a lease. The form lists $713,051.00 as the amount needed to cure default and marks the claim as neither secured nor priority. An addendum states that the tenant was in default under a lease of two buildings in Irvine, California, and itemizes unpaid rent, unamortized costs, restoration costs and twelve months of lease damages, totaling $28,394,923.00 plus $45,000.00 in legal expenses. It reduces the claim by $4,000,000 held in escrow. The exhibit is 6 pages.
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Case 24-11217-BLS Doc 1056-2 Filed 04/07/25 Page 1 of 6
Exhibit B
Case 24-11217-BLS Doc 1056-2 Filed 04/07/25 Page 2 of 6
Debtor: Vyaire Medical, Inc.
UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE
Case Number: 24-11217
FILED
Claim No. 132
August 01, 2024
By Omni Claims Agent
Official Form 410 For U.S. Bankruptcy Court
Proof of Claim District of Delaware
04/22
Read
Read the instructions before
the instructions filling out
before filling form. This
this form.
out this Thisform
formis
isfor
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makingaaclaim forpayment
claimfor paymentin
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bankruptcycase.
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make a request for payment of an administrative expense. Make such a request according to 11 U.S.C. § 503.
request for payment of an administrative expense. Make such a request according to 11 U.S.C. § 503.
Filers must leave out or redact information that is entitled to privacy on this form or on any attached documents. Attach redacted copies of any
Filers musthat
documents leave out or
support redact
the information
claim, such as that is entitled
promissory notes,to privacy
purchaseon this form
orders, or on any
invoices, attached
itemized documents.
statements of running redacted copies
Attachaccounts, of any
contracts, documents
judgments,
that supportand
mortgages, the security
claim, such as promissory
agreements. notes,
Do not sendpurchase
originalorders, invoices,
documents; itemized
they may be running
destroyedofafter
statements accounts,
scanning. If thecontracts,
documents judgments, mortgages, and
are not available,
securityinagreements.
explain Do not send original documents; they may be destroyed after scanning. If the documents are not available, explain in an attachment.
an attachment.
A
A person
person who
who files
files aa fraudulent
fraudulent claim
claim could
could be
be fined
fined up
up to
to $500,000,
$500,000, imprisoned for up
imprisoned for up to
to 5
5 years,
years, or
or both. 18U.S.C.
both. 18 U.S.C.§§
§§152,
152,157,
157,and
and3571.
3571.
Fill in all the information about the claim as of the date the case was filed. That date is on the notice of bankruptcy (Form 309) that you received.
Fill in all the information about the claim as of the date the case was filed. That date is on the notice of bankruptcy (Form 309) that you received.
Carefully read instructions included with this Proof of Claim before completing.
Part 1: Identify the Claim
1. Who is the current creditor? Quad DBC Holdings LLC
Name of the current creditor (the person or entity to be paid for this claim)
Other names the creditor used with the debtor
2. Has this claim been acquired X No
from someone else? Yes From whom?
3. Where should notices and Where should notices to the creditor be sent? Where should payments to the creditor be sent? (if
payments to the creditor be different)
sent?
Beejal Northrup
Federal Rule of Name Name
111 Innovation Drive
Bankruptcy Procedure
(FRBP) 2002(g)
Number Street Number Street
Irvine, CA 92617
City State ZIP Code City State ZIP Code
Contact Phone 949.720.5546 Contact Phone
bnorthrup@irvinecompany.com
Contact email Contact email
Uniform claim identifier for electronic payments in chapter 13 (if you use one)
4. Does this claim amend one X No
already filed? Yes Claim Number on court claims registry (if known) Filed On
MM / DD / YYYY
5. Do you know if anyone else
has filed a proof of claim for X No
this claim? Yes Who made the earlier filing?
Official Form 410 Proof of Claim
Case 24-11217-BLS Doc 1056-2 Filed 04/07/25 Page 3 of 6
Part 2: Give Information About the Claim as of the Date the Case Was Filed
6. Do you have any number you
use to identify the debtor?
X No
Yes Last 4 digits of the debtor's account or any number you use to identify the debtor:
7. How much is the claim? $ $24,439,923.00 Does this amount include interest or other charges?
No
X Yes Attach statement itemizing interest, fees, expenses, or other
charges required by Bankruptcy Rule 3001(c)(2)(A).
8. What is the basis of the Examples: Goods sold, money loaned, lease, services performed, personal injury or wrongful death, or credit card.
claim?
Attach redacted copies of any documents supporting the claim required by Bankruptcy Rule 3001(c).
Limit disclosing information that is entitled to privacy, such as health care information
Landlord Claim, See addendum
9. Is all or part of the claim X No
secured? Yes The claim is secured by a lien on property
Nature of property:
Real Estate If the claim is secured by the debtor's principal residence, file a Mortgage Proof of Claim
Attachment (Official Form 410-A) with this Proof of Claim
Motor Vehicle
Other Describe:
Basis for perfection:
Attach redacted copies of documents, if any, that show evidence of perfection of a security interest (for example,
a mortgage, lien, certificate of title, financing statement, or other document that shows the lien has been filed or
recorded.
Value of Property: $
Amount of the claim that is secured: $
Amount of the claim that is unsecured: $ (The sum of the secured and
unsecured amounts should match the
amount in line 7).
Amount necessary to cure any default as of the date of the petition: $
Annual Interest Rate: (when case was filed) ____________%
X Fixed
Variable
10. Is this claim based on a No
lease? $713,051.00
X Yes Amount necessary to cure any default as of the date of the petition. $
11. Is this claim subject to a X No
right of setoff? Yes Identify the property:
12. Is this claim for the value X No
of goods received by the Yes Amount of 503(b)(9) Claim: $
debtor within 20 days
before the
commencement date of
this case
(11 U.S.C. § 503(b)(9)).?
Official Form 410 Proof of Claim
Case 24-11217-BLS Doc 1056-2 Filed 04/07/25 Page 4 of 6
13. Is all or part of the claim X No
entitled to priority under Amount entitled to priority
Yes Check one:
11 U.S.C. § 507(a)?
Domestic support obligations (including alimony and child support) under
11 U.S.C. § 507(a)(1)(A) or (a)(1)(B). $
A claim may be partly
priority and partly
Up to $3,350* of deposits toward purchase, lease, or rental of property or services
nonpriority. For example,
for personal, family, or household use. 11 U.S.C. § 507(a)(7).
in some categories, the $
law limits the amount
Wages, salaries, or commissions (up to $15,150*) earned within 180 days before
entitled to priority.
the bankruptcy petition is filed or the debtor's business ends, whichever is earlier. $
11 U.S.C. § 507(a)(4).
Taxes or penalties owed to governmental units. 11 U.S.C. § 507(a)(8). $
Contributions to an employee benefit plan 11 U.S.C. § 507(a)(5). $
Other. Specify subsection of 11 U.S.C. § 507(a)(___) that applies. $
* Amounts are subject to adjustment on 4/01/25 and every 3 years after that for cases begun on or after the date of adjustment.
Part 3: Sign Below
The person completing Check the appropriate box:
this proof of claim must
sign and date it. X I am the creditor.
FRBP 9011(b). I am the creditor's attorney or authorized agent.
I am the trustee, or the debtor, or their authorized agent. Bankruptcy Rule 3004.
If you file this claim
electronically, FRBP I am the guarantor, surety, endorser, or other codebtor. Bankruptcy Rule 3005.
5005(a)(2) authorizes
courts to establish local I understand that an authorized signature on this Proof of Claim serves as an acknowlegment that when calculating the
rules specifying what a
signature is. amount of the claim, the creditor gave the debtor credit for any payments received toward the debt.
I have examined the information in this Proof of Claim and have a reasonable belief that the information is true
A person who files a and correct.
fraudulent claim could be
fined up to $500,000, I declare under penalty of perjury that the foregoing is true and correct.
imprisoned for up to 5
years, or both.
18 U.S.C. §§ 152, 157, and Executed on date 8/2/2024
3571. MM / DD / YYYY
Beejal Northrup
Signature
Print the name of the person who is completing and signing this claim:
Name Beejal Northrup
First Name Middle Name Last Name
Title S.V.P. Division Finance Officer
Company The Irvine Company
Identify the corporate servicer as the company if the authorized agent is a servicer.
111 Innovation Drive
Address
Number Street
Irvine, CA 92617
City State ZIP Code
bnorthrup@irvinecompany.com
Contact Phone 949.720.5546 Email
Official Form 410 Proof of Claim
Case 24-11217-BLS Doc 1056-2 Filed 04/07/25 Page 5 of 6
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re: Chapter 11
VYAIRE MEDICAL, INC., et al.
Case No. 24-11217(BLS)
Debtors (Jointly Administered)
ADDENDUM TO PROOF OF CLAIM
1. Landlord and debtor, Vyaire Medical Inc., (“Tenant”) are parties to an unexpired
lease of two buildings of non-residential real property located at 510 Technology Drive and 520
Technology Drive in Irvine, California, (the “Lease”). On the Petition Date herein, Tenant was in
default under the Lease.
2. With respect to 510 Technology Drive, the Tenant owes $295,084.00 in unpaid
petition rent. Furthermore, the Tenant owes the following non-rent costs stemming from the
Lease and related to 510 Technology Drive: (i) unamortized costs related to tenant
improvements, letters of credit, and free rent in the amount of $4,174,499.00 and (ii) restoration
costs in the amount of $3,809,142.00. The twelve months of lease damages totals $3,910,329.00.
3. The total claim related to 510 Technology Drive is $12,189,054.00.
4. With respect to 520 Technology Drive, the Tenant owes $417,967.00 in unpaid
petition rent. Furthermore, the Tenant owes the following non-rent costs stemming from the
Lease and related to 520 Technology Drive: (i) unamortized costs related to tenant
improvements, letters of credit, and free rent in the amount of $1,904,724.00; (ii) restoration
costs in the amount of $535,663.00; and (iii) building obligations in the amount of
$8,134,434.00. The twelve months of lease damages totals $5,213,081.00.
5. The total claim related to 520 Technology Drive is $16,205,869.00.
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Case 24-11217-BLS Doc 1056-2 Filed 04/07/25 Page 6 of 6
6. The 510 Technology Drive and 520 Technology Drive claims total
$28,394,923.00, plus an additional $45,000.00 related to legal expenses.
7. An Escrow Agent, First American Trust FSP is holding $4,000,000 of letter of
credit proceeds in an escrow agreement on behalf of the Landlord’s lender, Northwestern Mutual
Life Insurance Co. for the future build-out of the 520 Technology Drive Premises. The Landlord
has calculated the $4,000,000 held in escrow as a reduction of the Landlord’s claim, thereby
bringing the Landlord’s claim down to $24,439,923.00
8. This proof of claim is without prejudice to amend or update the claim as is
appropriate. The Landlord explicitly reserves and preserves all rights.
11321722 v1
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