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About The DailyDAC Editors
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.
Articles by The DailyDAC Editors
NOTIFICATION OF DISPOSITION OF COLLATERAL BY PUBLIC SALE YOU ARE HEREBY NOTIFIED pursuant to Sections 610 & 611 of revised Article 9 of the Uniform Commercial Code (the “UCC”) that Traffic Acquisition Corporation, a Delaware corporation (“Secured Party”), P.O. Box 147, Vero Beach, Florida 32963, will sell all right, title and interest of Traffk, LLC (“Debtor”), located at 316 East 63rd St., Suite IA, New York, New York 10065, United States of America, in, to and under the “Collateral” described in Exhibit A hereto (the “Subject Collateral”). The sale of the Subject Collateral (the “Sale”) pursuant to this Notification of Disposition of Collateral by Public Sale (this “Notification”) will be in exercise of the rights granted by Debtor under applicable commercial law and the Secured Promissory Note, Security Agreement and duly filed UCC Financing Statement executed by the Debtor in favor of the Secured Party (the “Security Documents”). The Subject […]
Knowing the collateral value of a secured claim is important. It will impact how the secured creditor is treated under the plan.
The assets of Revenue.fm, Inc. will be sold by Audio Innovation Labs, LLC in a UCC Article 9 sale. The Auction will commence on March 21, 2024, at 12:00 PM EST at 6750 East Camelback Road, Suite 103 Scottsdale Arizona 85251 and via videoconference. The collateral to be sold is described in Exhibit A. Bidders must register to attend the Auction no later than March 20, 2024 by contacting Resolute Commercial Services at [email protected]
PFC Investment/BUSA, LLC, Austin Merchant Capital Co., LLC, Fin Maletti S.p.A, and Maletti S.p.A , as secured creditors of Maletti Belvedere, LLC and Belvedere USA, LLC will hold a public foreclosure sale of all of the personal property collateral pledged to Secured Creditors, including machinery and equipment, inventory, accounts receivable, general intangibles, contract rights and all other personal property assets, other than any collateral specifically excluded by Secured Creditors in their discretion. The Borrower is in the business of the design and sale of salon furniture and equipment, with assets in Belvedere, Illinois and Mexicalli, Mexico. The sale will be held on March 12th at 10:00 am CT. Professionals Involved: Jeffrey E. Hardyman of Hardyman and DiVerde.
NFV ZNews SPV LLC will sell all right, title and interest of Z News Service, Inc. in and to the “Collateral,” which includes all property and assets of every type (tangible, intangible, real, personal or mixed, whether now owned or hereafter acquired or arising, wherever located, and all proceeds, rents and products of the foregoing). The sale will be held on March 28, 2024, at 2:00 pm ET remotely via Zoom only. Bidders must submit a bid by March 25, 2024, at 5:00 pm ET. Professionals Involved: Ronald Gellert, James C. Bastian, Jr., Melissa Lower (Counsel for Secured Party) and Joshua Olshin, Auctioneer
A composition agreement is an out of court agreement between the debtor and two or more creditors regarding payment arrangements on a debt.
NOTICE OF DISPOSITION OF COLLATERAL (PUBLIC SALE) UNDER SECTION 9-611 OF THE CALIFORNIA UNIFORM COMMERCIAL CODE Name of Debtor: AirX Bioscience, LLC, a Delaware limited liability company (the “Debtor”) Name of Secured Party: Oxford Finance LLC, a Delaware limited liability company (“Secured Party”) Pursuant to that certain (i) Secured Promissory Note, dated as of September 27, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Note”) by Debtor in favor of AirXpanders Assets Liquidation Company, LLC, a Kansas limited liability company (“AirXpanders”), and (ii) Security Agreement, executed on or about September 27, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”, and together with the Note, the “Loan Documents”) between Debtor and AirXpanders, which Loan Documents were subsequently assigned to Secured Party, Debtor assigned to Secured Party all of such Debtor’s right, title and interest in the […]
A UCC foreclosure sale of the 100% stock interest held by the Debtor in Queen Elizabeth Realty Corp will take place on March 13, 2024 at 12:00 p.m. The sale will be held at the offices of Goldberg Weprin Finkel Goldstein LLP, 125 Park Avenue, 12th Floor, New York, New York. Professionals Involved: Matthew Mannion, Auctioneer, Greg Corbin of Northgate Real Estate Group, Marketing Agent
When a seller of real property files for bankruptcy the purchaser has rights under the bankruptcy code and as an executory contract.
UCC PUBLIC SALE NOTICE PLEASE TAKE NOTICE that Arena Investors, LP (“Secured Party”) will sell the personal property consisting of machinery, equipment and ancillary items (the “Equipment”), of Can B Corp., a Florida corporation, aka Canbiola, Inc., together with its subsidiaries (collectively, “Debtor”) pledged by Debtor to Secured Party as security amounts due from Debtor to Secured Party, to the highest qualified bidder(s) by public sale on Thursday, February 22, 2024 starting at 10:00am Mountain Time. https://www.bidspotter.com/en-us/auction-catalogues/maynards-usa/catalogue-id-bscmayn10245 More information regarding the public sale, including, without limitation, the description of the Equipment, inspection of the Equipment, Terms and Conditions of sale, registration requirements to become a bidder and payment terms can be found at the auction website described above. You will be able to view the auction without registering to bid but you will need to register in advance and comply with the Terms and Conditions as found at the auction […]