In re:

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE
ALLIED SYSTEMS HOLDINGS, INC., et at.,
1
) Chapter II
)
) Case No. 12-11564 (CSS)
)
Debtors.
) (Jointly Administered)
)
) Related Docket Nos. 230, 369
ORDER APPROVING STIPULATION EXTENDING THE TIME
FOR THE CREDITORS' COMMITTEE TO COMPLETE ITS LIEN
INVESTIGATION WITH RESPECT TO CERTAIN DISPUTED ASSETS
AND TO COMMENCE A CHALLENGE RELATED THERETO
This Court having considered the Stipulation Extending the Time for the Creditors'
Commil/ee to Complete Its Lien Investigation With to Disputed Assets and to Commence
a Challenge Related Thereto (the "Stipulation") between the Official Committee of Unsecured
Creditors, the Debtors
2
and Yucaipa attached hereto as Exhibit 1; the court having determined
that good and adequate cause exists for approval of the Stipulation; and the Court having
determined that no further notice of the Stipulation must be given; it is hereby
ORDERED that the Stipulation is approve.
Dated: September 2!/. 2012
CHRISTO . SONTCHI
UNITED STATES BANKRUPTCY JUDGE
The debtors in the above-captioned cases (collectively, the "Debtors"), along with the federal tax
identification nwnber (or Canadian business number where applicable) for each of the Debtors, are: Allied Systems
Holdings, Inc. (58-0360550); Allied Automotive Group, Inc. (58-2201081); Allied Freight Broker LLC (59-
2876864); Allied Systems (Canada) Company (90-0169283); Allied Systems, Ltd. (L.P.) (58-1710028); Axis Areta,
LLC (45-5215545); Axis Canada Company (87568828); Axis Group, Inc. (58-2204628); C01mnercial Carriers, Inc.
(38-0436930); CT Services, Inc. (38-2918187); Cordin Traospon LLC (38-1985795); F..l. Boutell Driveaway LLC
(38-0365100); GACS Incorporated (58-1944786); Lngistic Systems. LLC (45-4241751); Logistic Technology, LLC
(45-4242057); QAT, Inc. (59-2876863); RMX LLC (31-0961359); Transpon Suppon LLC (38-2349563); and
Tenninal Services LLC (91-0847582). The location of the Debtors' cmporate headquarters and the Debtors'
address for service of process is 2302 Parklake Drive, Bldg. 15. Ste. 600, Atlanta, Georgia 30345.
2
Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Stipulation.
Exhibit 1
Stipulation
In re:
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
ALLIED SYSTEMS HOLDINGS, INC., eta!.,
8
) Chapter II
)
) Case No. 12-11564 (CSS)
)
Debtors.
) (Jointly Administered)
)
) Related Docket Nos. 230, 369
STIPULATION EXTENDING THE TIME FOR THE CREDITORS' COMMITTEE TO
COMPLETE ITS LIEN INVESTIGATION WITH RESPECT TO CERTAIN DISPUTED
ASSETS AND TO COMMENCE A CHALLENGE RELATED THERETO
WHEREAS, on July 12, 2012, the Court entered the Final Order Pursuant to 11 U.S. C.
105, 361, 362, 363(c), 364(c)(1), 364(c)(2), 364(c)(3), 364(e), 503(b) and 507(a), Fed. R.
Bankr. P. 2002, 4001 and 9014 and Del. Bankr. L.R. 4001-2: (I) Authori=ing Debtors to (A)
Obtain Postpetition Secured DIP Financing And (B) Use Cash Collateral; (II) Granting
Superpriority Liens and Providing for Superpriority Administrative Expense Status; (Ill)
Granting Adequate Protection to ?repetition Secured Lenders; And (IV) ModifYing Automatic
Stay (D.I. 230) (the "DIP Order");
9
WHEREAS, pursuant to paragraph 12(b) of the DIP Order, the Official Committee of
Unsecured Creditors (the "Conunittee") and all non-debtor parties in interest have the right to
file a complaint pursuant to Bankruptcy Rule 700 I, or assert a setoff, claim, offset or defense
that seeks to invalidate, subordinate, recharacterize any of the Prepetition Lender Liens,
The debtors in the above-captioned cases (collectively, the "Debtors"), along with the federal tax
identification number (or Canadian business munber where applicable) tbr each of the Debtors, are: Allied Systems
Holdings, Inc. (58-0360550); Allied Automotive Group, Inc. (58-2201081); Allied Freight Broker LLC (59-
2876864); Allied Systems (Canada) Company (90-0169283); Allied Systems, Ltd. (L.P.) (58-1710028); Axis Areta,
LLC (45-5215545); Axis Canada Company (87568828); Axis Group, Inc. (58-2204628); Conunercial Carriers, Inc.
(38-0436930); CT Services, Inc. (38-2918187); Cordin Transport LLC (38-1985795); F.J. Boutell Driveaway LLC
(38-0365100); GACS Incotporated (58-1944786); Logistic Systems, LLC (45-4241751); Logistic Technology, LLC
(45-4242057); QAT, Inc. (59-2876863); RMX LLC (31-0961359); Transport Support LLC (38-2349563); and
Tenninal Services LLC (91-0847582). The location of the Debtors' corporate headquarters and the Debtors'
address for service of process is 2302 Parklake Drive, Bldg. 15, Ste. 600, Atlanta, Georgia 30345.
9
Capitalized terms used but not defined herein shall have the meanings ascribed to them in the DIP Order.
Prepetition Secured Claims or the actions taken by any Prepetition Secured Party in its capacity
as such (a "Challenge Action"), provided that any Challenge Action by the Committee
challenging the perfection of any applicable lien must be brought on or before the later to occur
of seventy-five (75) days after the Consent Date and sixty (60) .days after the formation of the
Committee;
WHEREAS, on August 22, 2012, the Court entered the Stipulation and Order Regarding
Extension of the Creditors' Committee's Challenge Period (D.!. 369) (the "First Stipulation and
Order") between the Committee, the Debtors, and Yucaipa American Alliance Fund II, LLC
(together with its affiliated funds, "Yucaipa"), as DIP Agent and a DIP Lender under the Senior
Secured Super-Priority Debtor in Possession Credit and Guaranty Agreement dated as of June
II, 2012 and purported successor Prepetition First Lien Agent, amending paragraph 12(b )(i) of
the DIP Order, so that the Committee would have until the later to occur of one hundred and five
(105) days after the Consent Date and ninety (90) days after the fonnation of the Committee to
file a Challenge Action challenging the perfection of any lien;
WHEREAS, at the request of the Committee, the Debtors and Yucaipa, as DIP Agent and
the purported successor Prepetition First Lien Agent, consent to grant solely to the Committee, a
further limited extension (as specifically set forth herein) of the Challenge Period Tennination
Date to commence a Challenge Action with respect to the perfection of any applicable lien
relating to the specific disputed assets (the "Disputed Assets") set forth in Exhibit 1 to this
stipulation (this "Stipulation"):
NOW, THEREFORE, it is hereby stipulated and agreed by and between the Committee,
the Debtors and Yucaipa, as DIP Agent and the purported successor Prepetition First Lien Agent
2
(each, a "Party," and collectively, the "Parties"), as indicated by the signatures of their respective
authorized representative below that:
9. The Challenge Period for the Committee, as set forth in section (b)(i) of paragraph
12 of the DIP Order, and as amended by the First Stipulation and Order, to commence a
Challenge Action with respect to the perfection of any applicable lien relating to the Disputed
Assets shall be, and hereby is extended through and including October 23, 2012.
I 0. Nothing contained herein shall act to modify the Challenge Period for any other
purpose, including the Challenge Period for challenging the perfection of any applicable lien
relating to any other property of the Debtors not described above as the Disputed Assets (the
"Remaining Assets").
11. Nothing contained herein shall act to waive or prejudice either: (a) the
Committee's right to seek such other and further extensions as it deems necessary and
appropriate; (b) the Committee's right to seek to use Cash Collateral in excess of the cap
imposed on the Committee Challenge Fees as set forth in paragraph 12(d) of the DIP Order to
investigate and prosecute any Challenge Action; or (c) the right of any other Party to object to
the Committee's request(s) for such an extension, or use of Cash Collateral.
12. Except as expressly set forth herein or in any other applicable order of this Court,
the Parties agree that this Stipulation does not otherwise affect any term or provision of the DIP
Order, and that the DIP Order otherwise remains in full force and effect. For avoidance of doubt,
nothing herein limits the Committee's rights to bring a Challenge Action for any reason other
than the perfection of any applicable lien.
13. This Stipulation rna y be executed in one or more counterparts, each of which shall
be deemed an original, and all of which, when taken together, shall constitute one and the same
3
document. Signatures transmitted by facsimile or other electronic transmission shall be sufficient
to constitute execution by the parties hereto.
14. This Stipulation contains the entire agreement between the Parties as to the
subject matter hereof, and all understandings, agreements and communications prior to the date
hereof, whether express or implied, oral or written, relating to the subject matter hereof are fully
and completely extinguished and superseded by this Stipulation. This Stipulation shall not be
altered, amended, modified or otherwise changed, and the rights hereunder may not be waived,
except by a writing dated subsequent to the date hereof and duly signed by each of the Parties.
15. This Stipulation is effective upon filing without further order of Court and shall
not be modified, altered, amended or vacated without written consent of all parties hereto,
subject to Court approval.
4
16. This Court shall retain jurisdiction over all matters arising from or related to the
interpretation or implementation of this Stipulation.
AGREED TO AND ACCEPTED BY:
Date: September 22, 20 12
Wilmington, Delaware
SULLIVAN HAZELTINE ALLINSON LLC
Is/ William A. Hazeltine
William D. Sullivan (No. 2820)
William A. Hazeltine (No. 3294)
901 North Market Street, Suite 1300
Wilmington, DE 1980 I
Tel: (302) 428-819!
Fax: (302) 428-8195
and
SIDLEY AUSTIN LLP
Is/ Dennis Kao
Michael G. Burke
Brian J. Lohan
DennisKao
787 Seventh Avenue
New York, NY 10019
Tel: (212) 839-5300
Fax: (212) 839-5599
Matthew A. Clemente
One South Dearborn Street
Chicago, IL 60603
Tel: (312) 853-7000
Fax: (312) 853-7036
Counsel for the Official Committee of Unsecured Creditors
5
Date: September 22,2012
Wilmington, Delaware
YOUNG CONAWAY STARGA TT & TAYLOR, LLP
Michael R. Nestor (No. 3526)
Joseph M. Barry (No. 4221)
Rodney Square
1000 North King Street
Wilmington, DE 1980 I
Tel: (302) 571-6600
Fax: (302) 571-1253
and
LATHAM & WATKINS LLP
Is/ Robert A. Klvman
Robert A. Klyman (admitted pro hac vice)
Gregory 0. Lunt (admitted pro hac vice)
355 South Grant Avenue
Los Angeles, CA 90071-1560
Tel: (213) 485-1234
Fax: (213) 891-8763
Counse/for Yucaipa American Alliance Fund II, LLC and
its a.ffiliatedfunds
6
Date: September 22, 2012
Wilmington, Delaware
RICHARDS, LAYTON & FINGER, P.A.
Mark D. Collins (No. 2981)
Christopher M. Samis (No. 4909)
Andrew C. Irgens (No. 5193)
Marisa A. Terranova (No. 5396)
One Rodney Square
920 North King Street
Wilmington, DE 19801
Tel: (302) 651-7700
Fax: (302) 651-7701
and
TROUTMANSANDERSLLP
Is/ Ezra H. Cohen
Jeffrey W. Kelley (admitted pro hac vice)
Ezra H. Cohen (admitted pro hac vice)
Carolyn P. Richter (admitted pro hac vice)
Matthew R. Brooks (admitted pro hac vice)
Benjamin R. Carlsen (admitted pro hac vice)
Bank of America Plaza
600 Peachtree Street, Suite 5200
Atlanta, GA 30308-2216
Tel: ( 404) 885-3000
Fax: ( 404) 885-3900
Counsel for the Debtors
7
Exhibit 1
Disputed Assets
Disputed Assets
The following purported assets of the Debtors are assets that the Committee currently disputes
are subject to a perfected security interest in favor of the Prepetition Lenders:
I. Certain equity interests
The Debtors' ownership interest in:
Leader Logistics, LLC
Haul Insurance Limited - [Cayman]
AX International Limited - [Bermuda]
Axis Operadora Hermosillo S.A. de C.V. - [Mexico]
Axis Operadora Mexico, S.A. de C.V.- [Mexico]
Axis Operadora Guadalajara, S.A. de C.V.- [Mexico]
Axis Operadora Monterrey, S.A. de C.V.- [Mexico]
Axis Logistica, S. de R.L. de C.V.- [Mexico]
Arrendadora de Equipo Para El Transporte de Automoviles S. de R.L. de C.V.-
[Mexico]
II. Real Estate
The following U.S. properties:
83 Nickerson Road, Ashland, MA 01721
75 Ransier Driver, West Seneca, NY 14224
19550 Smokey Road, Marysville, OH 43040
Ill Burroughs A venue, Cayce, SC 29169
2355 Frisco Avenue, Memphis, TN 38114
335 Old Hwy. 67 North, Midlothian, TX 76065
1500 Winder Highway, #8 in Dacula, County of Gwinnett, Georgia
25 Southside Industrial Parkway in Hapeville, in the county of Fulton and in the county
of Clayton, Georgia
1240 & 1241 Claycomo Road in Kansas City, county of Clay, Missouri
12502 Fogwell Parkway in Roanoke, county of Alan, Indiana
9450 Ideal Avenue South in Cottage Grove, county of Washington, Minnesota
Property(ies) located in the city of Dearborn, county of Wayne, Michigan
III. Deposit Accounts
The following deposit accounts:
1\:!llll' uf DqwsiliH")
Dthtnr Bunk Account l\urnhcr
111
-\ccnunt 1'\amt'
Allied System Holdings, Bank of America
DDA/Benefits
Inc.
Allied Systems, Ltd. Fidelity National Bank
Imp rest Distribution Account
Allied Systems, Ltd. Bank of America
Convenience
Axis Group Inc. Fidelity National Bank Escrow
Logistics Technology LLC Fidelity National Bank Convenience
Logistics Systems LLC Fidelity National Bank Convenience
Fidelity National Bank Convenience
AXIS ARETA LLC
Allied Systems, Ltd. Fidelity National Bank Investment Account
Allied Systems Holdings, Fidelity National Bank In1prest Concentration Account
Inc.
Allied Systems, Ltd. First Bank Wentzville Convenience
FJB M&IBankof Convenience
Janesville
Allied Systems Holdings, Bank of America CDA
Inc.
Allied Systems Holdings, Bank of America CDA
Inc.
Allied Automotive Group Bank of America CDA
Allied Automotive Group Bank of America CDA
Allied Automotive Group Bank of America DDA
Allied Automotive Group Bank of America CDA
Axis Group, Inc. Bank of America CDA
Axis Group, Inc. Bank of America CDA
Allied Systems LTD Wells Fargo Convenience
Allied Systems LTD Wells Fargo Convenience
10
Accmlllt numbers are omitted for confidentiality purposes.
2
Allied Systems LTD The Ohio State Bank Convenience
Allied Systems LTD PNC Bank Convenience
Allied Systems Holdings, First Citizens Bank CDA/Benefits
Inc.
Allied Systems Holdings, Wells Fargo Trust Acct tor Nat'l Indemnity
Inc. Insurance
Allied Systems Holdings, Fidelity National Bank CD collateralizing State of
Inc. Florida LOC
Allied Systems Holdings Conunerce Bank Treasury Bond Collateralizing
h1c State of Missouri Worker's
Com]>
IV. Motor Vehicles
The following motor vehicles:
''''"
\I'\ \lfr. i\lodd
78048 IB9CS45203P275203 BOYDSTUN
78032 !B9CS45224P275396 BOYDSTUN
76218 !B9CS45226P275093 BOYDSTUN C75
76124 !B9CS45227P275113 BOYDSTUN 9100
76204 lB9CS45236P275085 BOYDSTUN
76150 !B9CS45237P275136 BOYDSTUN 9100
78044 1B9CS45253P275200 BOYDSTUN
77984 1B9CS45274P275359 BOYDSTUN
78028 !B9CS45274P275393 BOYDSTUN
76212 !B9CS45276P275090 BOYDSTUN C75
76126 IB9CS45276P275975 BOYDSTUN 9100
76196 1B9CS45286P275082 BOYDSTUN
77116 !B9CS45287P275374 BOYDSTUN C75
78026 lB9CS452X4P275405 BOYDSTUN
76146 IB9CS452X7P275l34 BOYDSTUN C75
4653 IC9AZI476XG148026 COTTRELL CS-12M3
70616 ID9AU7040PBO 19079 DELAVAN R77
70619 !D9AU7040PBO 19082 DELAVAN R77
70633 !D9AU7040PB019096 DELAVAN R77
70559 ID9AU7041PBOI8975 DELAVAN R77
89031 !D9AU7041RB019434 DELAVAN
70620 ID9AU7042PBO 19083 DELAVAN R77
97031 ID9AU7042RBOI9300 DELAVAN R77
70555 !D9AU7044PBOI8971 DELAVAN R77
70813 !D9AU7044RBOI9296 DELAVAN R77
70829 !D9AU7044RBO 19363 DELAVAN R77
70774 ID9AU7045PBOI9255 DELAVAN R77
3
70761 1D9AU7047PB019239 DELAVAN R77
70807 1D9AU7047RB019289 DELAVAN R77
70756 !D9AU7048PBO 19248 DELAVAN R77
70618 !D9AU7049PB019081 DELAVAN R77
70686 !D9AU7049PB019145 DELAVAN R77
70735 ID9AU7049PB019212 DELAVAN R77
70778 !D9AU7049RBO 19259 DELAVAN
70558 ID9AU704XPB018974 DELAVAN
70725 !D9AU704XPB019154 DELAVAN R77
73838 1 TRDA2489HR000056 STUART
78077 2FZHAZAS43AK37557 STERLING LT9500
77983 2FZHAZAS44AM87740 STERLING LT9500
78075 2FZHAZAS53AK37566 STERLING LT-9500
78031 2FZHAZAS54AM87777 STERLING LT9500
78059 2FZHAZAS63AK37589 STERLING LT9500
78025 2FZHAZAS64AM87786 STERLING LT9500
78043 2FZHAZAS93AL63137 STERLING LT9500
78047 2FZHAZAS93AL63140 STERLING LT9500
78027 2FZHAZASX4AM87774 STERLING LT9500
734!3 2FZHAZCV04AN26850 STERLING LT9500
73399 2FZHAZCV 15AN26843 STERLING LT9500
73381 2FZHAZCV24AN26834 .STERLING LT9500
73409 2FZHAZCV24AN26848 STERLING LT9500
73415 2FZHAZCV24AN26851 STERLING LT9500
73401 2FZHAZCV35AN26844 STERLING LT9500
73383 2FZHAZCV44AN26835 STERLING LT9500
73411 2FZHAZCV44AN26849 STERLING LT9500
73417 2FZHAZCV44AN26852 STERLING LT9500
73385 2FZHAZCV45AN26836 STERLING LT9500
73403 2FZHAZCV55AN26845 STERLING LT9500
STERLING
73419 2FZHAZCV64AN26853 TRUCKS B36
73387 2FZHAZCV65AN26837 STERLING LT9500
73393 2FZHAZCV65AN26840 STERLING LT9500
73421 2FZHAZCV84AN26854 STERLING LT9500
73389 2FZHAZCV85AN26838 STERLING LT9500
73395 2FZHAZCV85AN26841 STERLING LT9500
73407 2FZHAZCV95AN26847 STERLING LT9500
73391 2FZHAZCVX5AN26839 STERLING LT9500
73397 2FZHAZCVX5AN26842 STERLING LT9500
78495 2FZHCMCV69AAC8185 STERLING LC
89037 4RCAC7044TB019963 CCI
71670 4RCAC7049VBO 10226 CCI 2877A
96267 4RCAE706XVB010163 CCI 7000
71477 4RCAG7042TBO 19982 CCI 6000
71679 4RCAG7049TB010017 CCI 6000
90226 4V2PCBPFOSR702827 WHITEGMC 55
61380 4V2PCBPF5SR707330 VOLVO WAH64
5218 4V5PC8RF01N315624 VOLVO WAH64
52!0 4VSPC8RF11N315616 VOLVO WAH64
5258 4V5PC8RF11N315664 VOLVO WAH64
4
5242 4V5PC8RF31N315648 VOLVO WAH64
5245 4V5PC8RF31N315651 VOLVO WAH64
5276 4V5PC8RF31N315682 VOLVO WAH64
52!3 4V5PC8RF71N315619 VOLVO WAH64
5261 4V5PC8RF71N315667 VOLVO WAH64
5336 4V5PC8RF91N322443 VOLVO WAH64
1915 4VHPCBPF3XN763366 VOLVO WAH64
1911 4VHPCBPF6XN763362 VOLVO WAH64
7064 4VHPCBUF9XN788731 VOLVO
WAH64
1218 5EOAC14401G002810 COTTRELL C-7511
1210 5EOACI4411G002802 COTTRELL C-7511
0!336 5EOAC1442!G003585 COTTRELL Q7512
1242 5EOAC14431G002834 COTTRELL C-7511
1258 5EOAC14461G003167 COTTRELL C-7511
1261 5EOAC14461G003170 COTTRELL C-75ll
1213 5EOAC1447G002805 COTTRELL C-7511
1245 5EOAC14491 G002837 COTTRELL C-7511
5