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products by IBM’s competitors (Amdahl Corp. and Hitachi Data
Systems, Inc.); and (4) the introduction of “CMOS based parallel
architecture” on April 5, 1994. On June 6, 1996, CIG advised
Andantech that the value of the equipment in categories E through
I inclusive did not exceed the principal plus accrued interest due
on junior promissory notes 2e through 2i.
After analyzing the information received from Mr. Oram and the
ARI PropertyLink appraisal, Ms. Grossman concluded that Andantech
was not entitled to consideration from Comdisco for the equipment
in categories E through I, beyond the cancellation of the balloon
notes relating thereto. Thus, Andantech accepted Comdisco’s
determination that the value of the equipment in categories E
through I did not exceed the principal plus accrued interest on
junior promissory notes 2e through 2i.
On July 2, 1996, Andantech executed a bill of sale for the
equipment in categories E through I to Comdisco. On July 10,
1996, Comdisco canceled the balloon notes relating to the equipment
in categories E through I (i.e., junior promissory notes 2e-2i).
On August 23, 1996, Comdisco advised Andantech that it was
exercising its early termination option to purchase the equipment
in categories A through D (i.e., the 9121 models). Comdisco
engaged two additional companies to provide appraisals of the
equipment in category A as of the early termination date. The
findings included the following: (1) In its September 23, 1996,
appraisal, Computer Merchants, Inc. (CMI), concluded that the value
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