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of category A of the equipment was $63,000 (as of September 27,
1996, the early termination date); and (2) in its September 24,
1996, appraisal, CIR concluded that the value of category A of the
equipment was $89,000 (as of September 27, 1996). Accordingly, on
September 25, 1996, Comdisco advised Andantech that the value of
the category A equipment did not exceed the principal plus accrued
interest due on the corresponding junior promissory note 2a.
On October 3, 1996, Mr. Oram advised Ms. Grossman that the IBM
computers corresponding to equipment in category A had a maximum
value of $56,000, as of September 27, 1996. Andantech accepted
Comdisco’s conclusion that the value of the equipment in category
A did not exceed the principal plus accrued interest on junior
promissory note 2a. Thereafter, Andantech executed an undated bill
of sale of the equipment in category A to Comdisco. On October 8,
1996, Comdisco canceled junior promissory note 2a.
Comdisco subsequently engaged CIR and CMI to appraise the
equipment in categories B through D. On October 21, 1996, CMI
informed Comdisco that the value of the equipment in categories B
through D was $52,000, as of October 27, 1996. On October 25,
1996, CIR advised Comdisco that the value of the equipment in
categories B through D was $62,000, as of October 27, 1996. Mr.
Oram advised Ms. Grossman of these findings.
In light of these appraisals, Ms. Grossman requested ARI
PropertyLink to update its June 4, 1996, appraisal. ARI
PropertyLink confirmed its earlier opinion as to the September 27,
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