SALE OF ASSETS: Notice is hereby given that on Tuesday, June 23, 2020 at 2:00 pm, CST (the “Date of Sale”), at the offices of Rally Capital Services, LLC, 350 North LaSalle St, Suite 1100, Chicago, IL 60654, Howard B. Samuels, not individually, but solely as Assignee for the Benefit of Creditors (the “Assignee”) of Arlington Plating Company (“Company”), shall hold a public auction (“Auction”) in accordance with applicable Illinois law (the “Sale”) to offer for sale (i) substantially all assets used in connection with the operation of the Company’s business of providing anodizing finishes on aluminum, magnesium, steel and stainless steel, as well as copper alloys and zinc die cast surfaces (the “Business”) and (ii) the interest of Chicago Title Trust No. 8002383358 in and to the real property, land, improvements, fixtures (the “Real Property Assets”) located at 600 South Vermont Street, Palatine, IL 60067 (collectively the “Sale Assets”) including all of the Assignee’s right, title and interest in and to all of its assets whether tangible or intangible, real or personal or mixed, owned or leased (including indirect and other forms of beneficial interest) wherever located and by whomever possessed including but not limited to: (a) all tangible property, including but not limited to, accounts receivable, office furniture, fixtures, computer hardware, machinery, equipment, goods, motor vehicles, leasehold improvements, inventory, work in process, tools, marketing records, customer lists, mailing lists, warranty records, sales literature and other sales aids, catalogs, accounting records, graphic materials, and pricing and information materials; and (b) all intangible property, including but not limited to, all contract rights and interests, all intellectual property including, without limitation, copyrights, trademarks (common and registered), trade names, service marks, service names, licenses, patents, permits, websites, domain names, email addresses, proprietary information, technical information and data, electronic systems and processes and other similar intangible property rights and interests, computer software, telephone/fax numbers and telephone listings (all to the extent assignable), open orders, prepaid expenses, promissory notes, all possible causes of action, contingent and unliquidated claims, filed and unfiled choses in action and goodwill (with the foregoing assets described in (a) and (b), collectively the “Business Assets” ) ; and (c) all Real Property Assets. For the avoidance of doubt, Sale Assets shall include the Business Assets and the Real Property Assets and are hereinafter referred to as “Lot 1”, the Business Assets separately referred to as “Lot 2” and the Real Property assets referred to as “Lot 3”(individually, sometimes referred to as a “Lot”, or collectively as the “Lots”).
TERMS AND CONDITIONS: Each Lot sold or to be sold is being sold as a single lot “As Is” and “Where Is” and with no express or implied warranties, representation, statements or conditions of any kind including but not limited to warranties of merchantability or fitness for a particular purpose and are to be sold in accordance with the terms and provisions set forth above. The Assignee reserves the right, on or prior to the Date of Sale, to modify, waive or amend any terms or conditions of the sale or impose any other terms or conditions on the sale, and, if the Assignee deems appropriate, to reject any bids or continue the Auction (for any Lot or Lots) without prior notice.
As of the date of this publication, the Assignee is in active negotiations with several unrelated third party purchasers for the Assignee’s right, title and interest in and to the Sale Assets but will have the right to continues to market the Sale Assets for sale. The assets for the Lot or Lots being purchased will be set forth in detail in an Asset Purchase Agreement for a purchase price that is being offered for such Lot by a “Qualified Bidder” no later than noon CST on June 19, 2020.
For further information regarding the Lots, bidding procedures and to arrange for an inspection of any Lot and to become a Qualified Bidder on or before June 19, 2020 in order to attend the Auction, please contact Assignee as follows:
Howard B. Samuels, Esq., Assignee
Robert G. Goldstein, Esq., Successor Assignee
Daniel T. Lee; Jeffrey D. Samuels;
Rally Capital Advisors, LLC
350 North LaSalle St., Suite 1100
Chicago, IL 60654
Attorney for Assignor
Harold D. Israel, Esq.
Levenfeld Pearlstein, LLP
2 North LaSalle St., Suite 1300
Chicago, IL 60602
The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.
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