PUBLIC NOTICE OF CHAPTER 11 SALE: KP Engineering Liquidation Trust

OPPORTUNITY FOR SALE
Final Judgment — $15,073,898.03

In re KP Engineering, LP, et al., Case No. 19-34698 · U.S. Bankruptcy Court, S.D. Tex. (Houston)
KP Engineering Liquidation Trust v. Brandon T. Steele & BTS Enterprises, Inc. Adversary No. 23-03145

THE ASSET. The KP Engineering Liquidation Trust (the “Trust”) offers for sale, in whole, its Amended Final Judgment entered August 5, 2024 by the United States Bankruptcy Court for the Southern District of Texas, Houston Division (Hon. Christopher Lopez), in Adversary No. 23-03145, against Brandon T. Steele and BTS Enterprises, Inc., jointly and severally.

JUDGMENT AMOUNT. $15,073,898.03 as of June 11, 2024 — comprising $12,875,000.00 in principal, $2,063,524.53 in accrued interest, and $135,373.50 in attorneys’ fees — together with interest accruing thereafter (per the judgment, $6,349.31 per day through entry, and post-judgment interest at 5.02% per annum from August 5, 2024).

JUDGMENT DEBTORS. Brandon T. Steele (individual) and BTS Enterprises, Inc., jointly and severally liable. SELLER. Michael D. Warner, solely in his capacity as Liquidating Trustee of the KP Engineering Liquidation Trust.

BASIS OF THE JUDGMENT. The judgment resolves the Trust’s claims for default under a secured note given in connection with the settlement of the Trust’s claims (as successor to the Official Committee of Unsecured Creditors) for fraudulent transfers and related recoveries under the Bankruptcy Code and the Texas Uniform Fraudulent Transfer Act.

DILIGENCE AVAILABLE (UNDER NDA).
• The Amended Final Judgment and the underlying adversary complaint;
• The compromise pleadings and the order approving the settlement;
• The note and related security agreements; and
• The recorded abstract of judgment.

SALE PROCESS. The Trust invites offers to purchase the Judgment. Any sale will be without recourse and on an “as-is, where-is” basis, without representation or warranty of any kind, and is subject to any required approval of the Bankruptcy Court and to the Trustee’s business judgment. The Trust reserves the right to accept or reject any offer, to designate a stalking-horse purchaser, and to modify or terminate the process at any time.

ALL INQUIRIES TO:
Doug Stewart · [email protected] · (225) 231-9998
Stewart Robbins & Altazan, LLC
301 Main Street, Suite 1640
Baton Rouge, LA 70801

This notice is a summary for informational purposes only and is qualified in its entirety by the diligence materials and any definitive purchase documentation. The Judgment is offered for sale as-is, without recourse, and without representation or warranty of any kind.