1. What is Being Sold? Substantially all of the assets of Regency Corporate Living, a California corporation (“Debtor”), including the Debtor’s right, title, and interest in and to intellectual property (including, without limitation, contact lists, online platform profiles and domain names) and office equipment (collectively, the “Collateral”). The Collateral does not include accounts, breach of contract claims, or commercial tort claims.
2. What is the Debtor’s Business? The Debtor advertised itself as providing temporary housing solutions within a residential setting in California. For more information, check out it’s website here.
3. Article 9 Sale. This auction (“Auction”) will be conducted, and this public notice is being provided, pursuant to Section 9-610 of the Uniform Commercial Code (“UCC”), as adopted in the State of Utah and any other applicable jurisdictions, and any other applicable law.
4. Who is the Seller? Decathlon Alpha III, L.P. (“Secured Party”) is the seller. The Debtor has granted a security interest in all of the Collateral to the Secured Party to secure Debtor’s obligations to the Secured Party.
5. When and Where is the Auction? The Auction will be held on January 13, 2022 at 10 am CT and there is an initial bid deadline of January 10, 2022 at 3 pm CT. It will be held at the law firm of Fredrikson & Byron, 200 South Sixth Street, #4000, Minneapolis, MN 55402 but open bidding shall be conducted via video conference. Only Qualified Bidders and their representatives may attend; credentials to be supplied to Qualified Bidders.
6. Minimum Bid and Deposit. Among other requirements, to participate in the Auction, a Qualified Bidder must make a cash bid in the minimum amount of $750,000 and provide a deposit in the amount of $75,000.
7. More Information – Who to Contact? Please email [email protected] for more information, to get a copy of the bid procedures (“Bid Procedures”), to express your interest in becoming a Qualified Bidder, and/or to schedule a due diligence session.
8. Terms and Conditions. The following Terms and Conditions (in addition to the Bid Procedures) apply to the Auction:
DailyDAC™ is the oldest, most trusted, and most widely used provider of public notices of asset sales and case commencements, and other important notices involving companies in financial distress in the United States and Canada. DailyDAC™ public notices are used by bankruptcy trustees, chapter 11 debtors in possession, federal and state court receivers, and secured parties disposing of their collateral under Article 9 of the Uniform Commercial Code or other state law trust (and their respective auction firms, law firms, and other agents). Learn more.
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