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Rules are there for a reason. Follow them and you’ll be good. But some people live dangerously, flouting convention, and sometimes even running with scissors.
Well, if you file bankruptcy, bending or breaking the rules of bankruptcy law can get you in major trouble.
So, if you’re thinking of filing for bankruptcy protection, do yourself a favor and pull a Lori Loughlin; read How to become a Really Bad Bankruptcy Client and Maybe Even Get Prosecuted, by Donald Swanson.
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Before DailyDAC, bankruptcy sales were generally only advertised in local newspapers, resulting in far less recovery for creditors. In commemoration of those dark days, which are thankfully behind us, we present a classic newspaper advertisement:
Image Source: The Ward County independent. [volume] (Minot, Ward County, N.D.), 29 Sept. 1910. Chronicling America: Historic American Newspapers. Lib. of Congress. https://chroniclingamerica.loc.gov/lccn/sn88076421/1910-09-29/ed-1/seq-3/
Thanks to Molly Froschauer of Sherwood Partners for providing the inspiration and means for this blast from the past. For information on providing effective public notice of your sale, click here.
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About the Opportunistic Deal Database
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Vulture Investors Take Note:
Looking to buy companies out of bankruptcy? Assets of financially distressed companies in receivership, assignment or from lenders who have foreclosed on, and are selling, their collateral under Article 9 of the UCC? Search for excess assets resulting from plant closings? Targeting other sellers who need to sell urgently and other opportunistic/special situations?
Check out DailyDAC's Opportunistic Deal Database (ODD). The ODD culls such opportunities.
Subscribe here for access
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The deals listed here were added to the ODD throughout the seven day period ending this past Sunday. The number in parentheses next to each deal is its unique ID number, included so our paid subscribers can easily find these deals on our website.
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Secured Party Sales
- Asphalt plant, pavers, wheel loaders & miscellaneous equipment - (20731)
- Clocks, furniture, antiques, collectibles, and misc. - (20718)
- Late model pulp processing equipment - (20717)
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Private Company Sales
- Turnkey Machine Shop w/ Automated CNC Equipment - (20728)
- Production brewery & tasting room - (20727)
- Heavy construction company - (20725)
- Building materials company - (20724)
- Lithograph art - 1.2M lots - (20726)
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Assignment for the Benefit of Creditors Sales
- Technology services provider - (20738)
- Credit management firm - (20737)
- Distribution company - (20736)
- Shipping company - (20739)
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Chapter 11 - 363 Sales
- Holding company - Food services company - (20688)
- Casual dining restaurant group - (20713)
- Automotive import dealership - (20698)
- Metals broker and processor - (20691)
- Ship builder (w/equipment) - (20693)
- Biopharmaceutical company - (20696)
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Chapter 11 - Investment Banker Application Filed
- Developer of functional health foods & ingredients (w/intellectual property) - (20701)
- Medical device manufacturer - (20700)
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Chapter 11 - Case Filing Indicates Future Asset Sale
- Retailer of wholesale baby, home and pet products - (20673)
- Community of 16 skilled nursing facilities - (20680)
- Manufacturer of mobile solar generators - (20677)
- Land holder & development company - (20679)
- Manager of 185 condominium units - (20675)
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Chapter 7 - Sale of Business Assets
- Educational institution (w/equipment) - (20715)
- Trucks & trailers - Multiple lots - (20712)
- Theater & restaurant equipment - (20708)
- Equipment leasing company - (20714)
- 35+ Trucks & SUV's - (20710)
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Chapter 12 Bankruptcy
- No New Deals This Week
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Going Concern Opinions
- Mineral exploration company - (20722)
- Cannabis licensing company - (20723)
- Biotechnology company - (20719)
- CBD/Hemp oil company - (20721)
- Cannabis company - (20720)
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Auctions
- Historic African American art collection - (20735)
- Precision metal stamping plant - (20732)
- Farming & irrigation equipment - (20730)
- Vintage antique collection - (20733)
- Costume jewelry inventory - (20734)
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Other Interesting Sales
- Oil & gas exploration company - (20486)
- Biopharmaceutical company - (20482)
- Ceramics proppant supplier - (20481)
- Financial services company - (20483)
- Medical device company - (20485)
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Bulk Sales
- Automotive services business - (20740)
- Franchised sandwich shop - (20743)
- Full-service restaurant - (20741)
- Tea drink franchise - (20742)
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Receiverships
- 12 office properties/condominiums - (20707)
- 10,880 SF Retail Building - (20705)
- 36,947 SF Retail Building - (20704)
- 3,500 SF Retail Building - (20703)
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Mass/Significant Layoffs
- Engineering services firm - (20751)
- Convenience store chain - (2075)
- Industrial fabrication plant - (20752)
- Coal mining services plant - (20753)
- Machining manufacturer - (20754)
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Plant/Facility Closings
- Automotive body parts supplier - (20748)
- Plastic fabrication plant - (20745)
- Sugar refinery plant - (20749)
- Steel foundry - (20746)
- Boat builder - (20747)
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DailyDAC is a publication of DailyDAC,LLC. DailyDAC LLC is strictly a research publishing firm and falls within the publisher's exemption of the definition of an "investment advisor" and is of general and regular circulation. DailyDAC is not a registered broker/dealer and it is not an investment bank or business broker. DailyDAC is not a solicitation or offer to buy or sell any securities. All content in this email is copyright 2020 by DailyDAC, LLC and may not be reproduced without written permission of DailyDAC, LLC but this email may be forwarded freely in its entirety.
DailyDAC, LLC provides continuing education and information for business owners and executives, accredited investors, and their respective trusted advisors (primarily attorneys, accountants, and other financial and business advisors.) For more information about DailyDAC LLC, click here.
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DailyDAC, LLC
1954 First Street, Suite 178
Highland Park, IL 60035
847-463-9530
[email protected]
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