Receive this Newsletter March 10, 2020

Mega RV: Debtor and Lender Work Together for Sake of Unsecured Creditors

In the early 2010s, Mega RV was the #1 seller of new and used RVs throughout Southern California. The company’s lender loaned prodigiously in return for high interest and fees. Suddenly, however, the lender changed its expectations under its financing agreement and switched Mega RV to another office with less experience in the RV industry. Tensions rose, and the company was forced to file for bankruptcy. Mega RV and its secured lender tried to work out a plan to distribute some funds to unsecured creditors who were being shut out of the settlement. What happened next? Read the article, “Mega RV: Unsecured Creditors Fall Short in Bankruptcy Settlement” by Adam Stein-Sapir of Pioneer Funding Group, LLC.

The Automatic Stay - What Is It, and When Should I Request Relief From It?

Creditors need to understand how the automatic stay functions to determine whether they should request relief from it. Relief from the automatic stay can be beneficial or detrimental to a creditor, depending on the context. The DailyDAC Editors explain what the automatic stay does in bankruptcy proceedings and offer some points for consideration in the article “When to Request Relief from the Automatic Stay.”

Personal Finance & Investing Fundamentals 1.0

Stock market got you down? There’s a webinar for that! Check out Personal Finance & Investing Fundamentals 1.0. Financial Poise Webinars provide quality education by leading experts in an accessible, even entertaining way. Each is an hour long. Each comes with fantastic PowerPoint. Each is pretty entertaining (at least as compared to most seminars on the topic). And each is only $19.99. Come learn with us!

The Personal Finance & Investing Fundamentals 1.0 Webinar series is intended for the investor who wants to reduce “unknown unknowns” of investing. First, a refresher on asset allocation and portfolio theory, i.e., how to array your investments to produce reliable returns over time and temper potential losses. Then two episodes on the “why?” of investing – the goals one pursues, such as financing family events, retirement, and the fate of your assets when you meet your Maker or Makers, or fade to black, or whatever. Tax and legal and investment professionals have their uses, but you get more from them when you know which questions to ask and what information to insist on receiving. The final two episodes turn topical, taking up special topics, including options and private securities (as well as public securities). This is not about short term trading. It is about building a long term investment philosophy and portfolio designed to make you not feel horribly depressed at times like these.

Is Your Business in Trouble?

There’s a webinar for that too. Check out Help, My Business is In Trouble! Learn from experts from AlixPartners, Kirkland & Ellis, The Sugar Law Firm (Sugar Felsenthal), and Tannenbaum Helpern.

When a business becomes financially troubled, the business owner often experiences denial, paralysis, or both. Lenders commonly lose confidence and then trust in the business, as communications tend to break down, deadlines are missed, and promises are broken. Small business owners commonly have issued personal guarantees, so business failure can often lead to personal financial stress. The good news is the business and business owner usually has some options, and even some leverage. This webinar explains what a business owner should - and should not - consider and do when dealing with financial trouble. Specific topics include discussion of bankruptcy (Chapters 7 and 11), assignments for the benefit of creditors, and friendly foreclosures. This webinar provides the business owner and her advisors with an overview of various restructuring and liquidation methods, a framework for how to decide between them, and practical tips for traversing the difficult environment that is financial distress.
About the Opportunistic Deal Database
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
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.

Secured Party Sales

  1. Truck Tractors, Rolloff Trucks & Walking Floor Trailers - (21818)
  2. Furnishings & artwork - Multiple lots - (21814)
  3. Commercial building - 4,000 sq. ft. - (21816)
  4. Catering equipment - Multiple lots - (21815)
  5. Live sports network - (21751)

Private Company Sales

  1. Industrial Machinery & Equipment Repair Business (w/real estate) - (21839)
  2. Distributor of Industrial Power Products - (21837)
  3. Niche industrial manufacturer - (21838)
  4. Firearm parts manufacturer - (21840)
  5. Machinery Manufacturer - (21841)

Assignment for the Benefit of Creditors Sales

  1. Project management services company - (21852)
  2. Industrial lighting services company - (21851)
  3. Trucking & logistics company - (21855)
  4. Stone countertop dealer - (21856)
  5. Steel services plant - (21853)
  6. Fitness center - (21854)

Chapter 11 - 363 Sales

  1. Healthcare diagnostic imaging provider - (21754)
  2. Three professional office condominiums - (21761)
  3. Construction equipment - Multiple lots - (21768)
  4. Commercial trucking company - (21752)
  5. Offshore mussel farm - (21759)
  6. Full-service hotel - (21805)

Chapter 11 - Investment Banker Application Filed

  1. Developer of teleconference robot technology - (21788)

Chapter 11 - Case Filing Indicates Future Asset Sale

  1. Operator & franchisor of full-service dining restaurants - (21802)
  2. Broadline & specialty retailer - (21787)
  3. Metal finishing business - (21804)

Chapter 7 - Sale of Business Assets

  1. Commercial lighting fixtures dealer - (21766)
  2. Local football league (w/equipment) - (21789)
  3. Nightclub/bar (w/beverage license) - (21807)
  4. Trucking company (w/equipment) - (21765)
  5. Vehicles - Multiple lots - (21764)
  6. Restaurant & Irish pub - (21767)
  7. Countertop dealer - (21757)

Chapter 12 Bankruptcy

  1. No New Deals This Week
iGlobal - Real Estate Private Equity Summit

Rating Agency Alerts/Other Signs of Distress

  1. Chain of department stores & branded merchandise - (21785)
  2. Healthcare information services business - (21825)
  3. Security products & services dealer - (21824)
  4. Hydrocarbon exploration company - (21823)
  5. Energy-based royalty trust - (21782)


  1. Vintage industrial equipment - Multiple lots - (21809)
  2. Heavy industrial equipment - Multiple lots - (21813)
  3. Restaurant (w/equipment & vehicles) - (21808)
  4. Industrial MRO & Automation Parts - (21810)
  5. Farmland - ±282 Acres - (21786)
  6. Woodworking business - (21811)
  7. Shop & garage tools - (21812)

Other Interesting Sales

  1. Retailer of health & nutritional products - (21826)
  2. Chain of department stores - (21784)
  3. Consumer market publisher - (21822)
  4. Pharmaceutical company - (21821)
  5. Biotechnology company - (21820)

Bulk Sales

  1. Commercial beverage license - (21831)
  2. Full-service restaurant - (21827)
  3. Travel agency/center - (21830)
  4. Dental practice - (21828)
  5. Bar & grill - (21829)


  1. Office/Retail Building - 2,000 sq. ft. - (21834)
  2. Industrial property - 28,940 sq. ft. - (21836)
  3. 117 unit apartment building - (21835)
  4. Fish/seafood producer - (21833)
  5. Bee farm (w/tools) - (21832)

Mass/Significant Layoffs

  1. Transportation management & logistics company - (21850)
  2. Business process services company - (21848)
  3. Automotive components supplier - (21847)
  4. Manufacturer of tubular goods - (21849)
  5. Produce repackaging plants - (21846)

Plant/Facility Closings

  1. Diversified metals manufacturing company - (21844)
  2. Logistics & delivery contractor - (21817)
  3. Real estate investment firm - (21842)
  4. Wireless operations center - (21843)
  5. Industrial brick plant - (21781)
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