Noble Supply & Logistics Seeks October Auction, November Sale Closing
Noble Supply & Logistics is seeking an October 27, 2026 auction and a November 13 closing for a sale of its assets, with limited liquidity setting the pace. Its September 7 motion proposes selling the business or assets as a going concern or otherwise while simultaneously liquidating inventory and other working-capital assets. The auction schedule remains a proposal; the motion does not establish an approved sale or a committed buyer. Bidding-procedures motion
The distinction matters because Noble is financing the proceedings through consensual use of cash collateral, and says it has no additional postpetition financing. The September 1 interim cash-collateral order requires a completed sale or confirmed plan within 75 calendar days of the petition date, subject to the order’s terms. Sale motion Interim cash-collateral order
This account draws on court filings available through September 8, 2026.
Sources (5)
- Bidding-procedures motionCourt filing (opens in a new tab)
- Interim cash-collateral orderCourt filing (opens in a new tab)
- Chapter 11 case noticeCourt filing (opens in a new tab)
- Lansio declarationCourt filing (opens in a new tab)
- Noble Supply & Logistics Commences Voluntary Chapter 11 Proceedings to Pursue a Value-Maximizing Sale, Restructuring, or Other Path Forwardprnewswire.com · August 31, 2026 (opens in a new tab)
Case record
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| Debtor(s) | Noble Supply & Logistics, LLC and affiliated debtors |
| Court | U.S. Bankruptcy Court for the District of Delaware |
| Case Number | 26-11369 |
| Petition Date | August 30, 2026 |
The court’s case notice identifies August 30 as the petition date for Noble Supply & Logistics. The company announced the proceedings on August 31. Chapter 11 case notice Company announcement
Noble seeks buyers while liquidating working-capital assets
As of the September 7 motion, Noble had not secured a stalking horse bidder to establish a baseline purchase agreement. Portage Point had contacted approximately 105 prospective buyers; at least 25 parties had signed nondisclosure agreements, and 24 remained active in the data room. Those figures describe participation in diligence, not binding offers. Bidding-procedures motion
The process began without a formal prepetition marketing campaign. Portage Point’s Lisa K. Lansio said Noble received unsolicited inquiries and initial nonbinding indications of interest before filing, and continued working with those parties afterward. Noble’s proposed procedures allow sales of all or part of the assets to one or more purchasers. The structure therefore leaves both the scope of any surviving business and the composition of the eventual buyer group unresolved. Lansio declaration Bidding-procedures motion
The proposed auction calendar
The sale motion lists a September 28 hearing on the requested procedures and proposes the following transaction dates. Each remains subject to court approval and the applicable procedures. Bidding-procedures motion
| Proposed milestone | Date and time |
|---|---|
| Stalking horse designation | October 19, 2026, at 4 p.m. Eastern |
| Bid deadline | October 23, 2026, at 4 p.m. Eastern |
| Auction, if necessary | October 27, 2026, at 10 a.m. Eastern |
| Sale hearing | November 6, 2026, subject to court availability |
| Closing deadline | November 13, 2026 |
Source: September 7 bidding-procedures motion.
Noble also seeks authority to offer a designated stalking horse bidder a breakup fee and expense reimbursement totaling no more than 3% of the applicable purchase price. That is a proposed cap on bid protections, not an awarded fee or an indication of asset value. Bidding-procedures motion
Cash-collateral conditions impose an earlier transaction test
The interim order authorizes limited use of secured creditors’ cash collateral under an approved budget and provides adequate-protection liens and superpriority administrative expense claims. That operating authority does not constitute a new-money financing commitment. Interim cash-collateral order
Its milestones require Noble, within 14 calendar days after the petition date, either to execute an asset purchase agreement reasonably acceptable to the prepetition term-loan agent or to file a plan and disclosure statement acceptable to that agent. The order also requires entry of final cash-collateral and bidding-procedures orders within 35 calendar days, and either consummation of a sale of all or substantially all assets or confirmation of a plan within 75 calendar days. Interim cash-collateral order, Exhibit 2
These conditions create a transaction test before the proposed October stalking horse designation deadline. The next material question is whether Noble satisfies the early purchase-agreement-or-plan milestone, or obtains a modification, while developing bids for the later auction.
Contract-related inventory exposure remains part of the case
In its August 31 announcement, Noble attributed its filing principally to the shortening of a Defense Logistics Agency weapons-support contract from ten years to four. The company said that left approximately $100 million of inventory and related obligations acquired to meet agency requirements. That amount is management’s description of its exposure, not a court finding or an established recovery claim. Company announcement
The cash-collateral order separately requires Noble to commence negotiations with the Defense Logistics Agency over disputes concerning the FSG-53 contract and inventory within ten days after the petition date. It does not establish a settlement or payment. The sale process and those negotiations leave two consequential issues open: what buyers will pay for Noble’s assets, and what value the estates can recover from the contract and inventory disputes. Interim cash-collateral order, Exhibit 2
This article was researched and written with AI assistance, using court filings, public records, and news sources. AI-generated content can contain errors. Verify all information against primary sources before relying on it. This is not legal or financial advice. See the disclaimer.